What amends or alters the terms of a title insurance commitment?

An endorsement is a document that modifies or adds to the coverage of a title insurance policy. It is used to amend or alter the terms specifically stated in the title insurance commitment. Endorsements are essential because they can cover specific risks that are not included in the standard policy, providing additional protection to the insured party.

In the context of title insurance, when a commitment is issued, it outlines the conditions and coverage offered by the title insurer. If the property involved has unique characteristics or risks, an endorsement may be required to adequately protect the buyer or lender, ensuring they are fully covered against those specific issues.

Other choices do not serve this purpose. Exceptions refer to specific situations or conditions that are not covered by the title insurance policy, effectively limiting coverage. Requirements outline the conditions that must be met before the title insurance policy can be issued but do not change the terms of coverage themselves. The chain of title is the historical record of legal ownership of a property and does not directly amend the commitment's terms. Therefore, the only option that directly alters or amends the terms of a title insurance commitment is the endorsement.