Third Circuit gives ALTA 9 provision broad, ‘plain language’ interpretation

In a case where the owner of a mall couldn’t sell the property due to a restriction of land use the owner believed was covered by an ALTA 9 endorsement, the 3rd U.S. Circuit Court of Appeals had to determine whether the scope of coverage under the endorsement’s provisions encompasses losses resulting from entire instruments, or coverage is limited to losses caused by the particular, listed encumbrances. Read on for the court’s decision.