ATIMA is an abbreviation for “As their interests may appear.” It is commonly used in insurance policies to indicate that the policyholder has a stake in the property being insured. Although the specific nature of this interest may not be specified, it entitles the policyholder to receive benefits in the event of any damage or loss to the property. Additionally, the phrase is utilised in the mortgage clause of a policy to safeguard the lender’s interest in the property. This ensures that if any harm befalls the property, the lender’s investment is also protected.
ATIMA is an abbreviation for “As their interests may appear.” It is commonly used in insurance policies to indicate that the named insured has an unspecified interest in the property covered by the policy and is entitled to benefits based on that interest. It is also used in a policy’s mortgage clause to protect the real-property interest of the mortgagee. For instance, if John purchases a house and obtains an insurance policy for it, he would be the named insured. However, if John’s friend Jane also has an interest in the property, but it is not specified in the policy, the phrase “ATIMA” would be used to indicate that Jane is entitled to benefits based on her interest. Similarly, if a bank provides a loan to someone for purchasing a house, the bank would have a mortgage on the property. The phrase “ATIMA” would be used in the policy’s mortgage clause to safeguard the bank’s interest in the property.
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This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 17th April 2024.
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- Modern Language Association (MLA):Atima. dlssolicitors.com. DLS Solicitors. May 09 2024 https://dlssolicitors.com/define/atima/.
- Chicago Manual of Style (CMS):Atima. dlssolicitors.com. DLS Solicitors. https://dlssolicitors.com/define/atima/ (accessed: May 09 2024).
- American Psychological Association (APA):Atima. dlssolicitors.com. Retrieved May 09 2024, from dlssolicitors.com website: https://dlssolicitors.com/define/atima/
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