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ENDORSEMENT TYPES (:check: Ensure Endorsement
It is the document that the…
ENDORSEMENT TYPES
:check: Property Endorsement
It is the one that transmits ownership of the title and all inherent rights to it.
For the operation to be completed, the material delivery of the title or document is necessary.
The owner of the document is the owner of the right consigned therein; the endorsee in property becomes an exchange creditor, oblivious to the exceptions not derived from what is written in the title, or to the personal ones filed by the person who was forced to pay the document.
The owner of the document is the owner of the right consigned therein; the endorsee in property becomes an exchange creditor, oblivious to the exceptions not derived from what is written in the title, or to the personal ones filed by the person who was forced to pay the document.
The art. 37 of the DLTV establishes that the title can be transmitted to the order by a means different from the endorsement. The norm refers to the possibility of transmission by succession or by a transfer of non-endorsable credits. In the case of succession, the purchaser is placed in the position of the deceased, does not acquire a new and autonomous right and therefore the debtor can oppose the exceptions he had against the deceased.
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:check: Ensure Endorsement
It is the document that the insurer issues and that becomes an integral part of the insurance contract as a supplement to it, and that is used to clarify and modify the policy conditions.
-Establish in the right to collect it, judicially or extrajudicially, right to endorse in procurement.
-The endorsement that contains the clauses "ensure to the collections", or another equivalent.
-It doesn´t transfer the property.
-The endorsee will have all the rights and obligations of an agent
Banks that receive securities to be credited to the holder's account can present them for collection, even if those securities have not been endorsed in their favor.
It is established that the revocation produces effects against third parties, when the revocation is noted in the title or when the revocation is judicial. If a judicial declaration was obtained, even if the Law does not say so, the declaratory judgment must be notified to the debtor or exchange debtors.
Add coverage
Some insurance endorsements add coverage for an additional premium to your policy, such as a rental reimbursement endorsement on your auto insurance. This endorsement adds coverage for a rental when your vehicle is being repaired.
Restrictions
An endorsement may be added to an insurance policy to restrict coverage. For example, many insurance policies have endorsements that exclude coverage for losses caused by acts of war or terrorism.
Additional insured
An endorsement could be added to an insurance policy to add an additional insured. This modifies the policy to add someone else to Section II of the insurance policy, "Who is insured."
Change in coverage
If you decide to change your coverage, an endorsement may be added to your insurance policy. An example would be an endorsement that increases the amount of your deductible, the amount you are required to pay in case of a claim.
Declarations page
You can find a list of all the endorsements of your policy on the declarations page. When an endorsement is added to your policy, the insurance company will send you a new declaration page explaining the endorsement.
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