Question

A 116 endorsement covers:

1) property address
2) mechanics lien insurance
3) violation of CCR's
4) assignment of a beneficial interest in a deed of trust

Answer 1

A 116 endorsement is a term used in real estate law that covers property address, mechanics lien insurance, violation of CCR's, and assignment of a beneficial interest in a deed of trust.

Step-by-step explanation:

A 116 endorsement is a term used in real estate law. It refers to an insurance endorsement that covers certain issues related to a property. In this case, a 116 endorsement covers the following:

• Property address: It ensures that the correct property address is listed on the insurance policy to avoid any confusion.
• Mechanics lien insurance: It provides coverage for any mechanics liens that may be placed on the property.
• Violation of CCR's: It covers any violations of the Covenants, Conditions, and Restrictions (CCR's) that may arise.
• Assignment of a beneficial interest in a deed of trust: It covers any assignment of a beneficial interest in a deed of trust, which is a legal document related to property ownership.