Alta loan policy
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Alta homeowner's policy vs standard policy!
What is an ALTA Policy?
An American Land Title Association (ALTA) policy is a title insurance policy that insures against losses that can be suffered in the transfer of title through the purchase of a property.
Alta homeowner's policy of title insurance cost
It helps avoid and protect against land title problems such as forged deeds, unrecorded mechanic’s liens, impersonation of owner, easements, water rights, boundary line disputes, mining claims, life estates, encroachments, contested wills and other assessments and encumbrances.
The most basic purpose of an ALTA policy is to guarantee that the lender has a valid lien that is enforceable.
In the early days of the United States, land was purchased and transferred between owners with the help of conveyancers.
These professionals searched public documents for information relevant to the property being sold and helped record the necessary deeds. In 1876, the first title insurance company was established by a group of conveyancers based in Philadelphia in order to protect lenders against title fraud and mistakes.
In 1907, the American Land Title Association was formed in an eff
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