Commonwealth Land Title Insurance Company, NCS

ALTA ENDORSEMENTS - 38 - SAMPLES AND DESCRIPTIONS MANUFACTURED HOUSING – CONVERSION: LOAN – FORM 7.1 ALTA Endorsement — Form 7.1 is available only for loan policies. The endorsement clarifies the coverage being provided by specifying that the manufactured housing unit (for example, the mobile home or prefabricated housing unit) located on the Land is covered by the terms of the policy. While the endorsement does not specifically amend any section of the policy, it does serve to clarify the definition of “Land” in paragraph 1(i) of the Conditions of the ALTA Loan Policy. Under this definition, the policy insures the validity of the lien of the Mortgage on manufactured housing units only if they are considered fixtures on the Land. Issuance of this endorsement constitutes the Company’s recognition that the manufactured housing unit on the Land is covered by the policy. Expanded coverage in paragraph 2 provides coverage as to items listed in sub paragraphs 2(a) through 2(f ) both inclusive, provided any of these items have not been excepted in Schedule B. This endorsement, which insures against loss if the manufactured housing unit is not considered real property under state law, will not be available in those states which do not have such statute or case law provisions. ALTA Endorsement — Form 7.1 (Manufactured Housing – Conversion: Loan – 01/07/2021) Form 7.1 Manufactured Housing – Conversion: Loan