NY TIRSA New York City “Air Rights” Endorsement Guideline 1993

Explanation:

Purpose Of Endorsement:
This endorsement, available only for policies insuring property located in New York City, insures that all parties in interest have joined in, waived or subordinated their interests to the Zoning Lot Declaration; that the Zoning Lot Development Agreement is valid and effective; and insures easements for light and air and negative covenants.

Underwriting Requirements:

Requirements For Issuance:
(a) The premises to be insured must be located in New York City;
(b) The Zoning Lot Certification as to “parties in interest” (as defined in the New York City Zoning Resolution of December 15, 1961, as amended) must be reviewed (or prepared), and all such parties in interest must have, by recorded instruments, waived, subordinated to or joined in the Declaration of Zoning Lot Restrictions;
(c) The Zoning Lot Development Agreement must be reviewed and recorded;
(d) Any easements of light and air or negative covenants not to build must be reviewed.
Issued With The Following Policies:
Owner’s and loan policies, where applicable and if requested.
Premium:
$25.00