Buyer Book - The Ramsey Team
TITLE POLICY COMPARISON CHART
ALTA Homeowners Plolicy
ALTA Standard Policy
ALTA Plain Language
COVERAGE
Someone else owns an interest in your title to the property
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A document is not properly signed
Forgery and fraud
Defective recording of any document
Restrictive covenants
There is a lien on your title because there is: a. a deed of trust b. judgment, tax or special assessment
c. a charge by the HOA (homeowner’s association)
Title is unmarketable
Mechanics’ lien protection
Forced removal of structure because it: a. extends onto other land or onto an easement b. violates a restriction in Schedule B of policy
c. violates an existing zoning law
Cannot use land for SFD (single-family dwelling) due to zoning or restrictions
Pays rent for substitute land or facilities Unrecorded lien by a homeowner’s association
Unrecorded easements
Rights under unrecorded leases
Plain language
Building permit violations Subdivision compliance Restrictive covenants violations
Post policy forgery
Post policy encroachment
Post policy structural damage from minerals extraction
Post policy Living Trust coverage
Enhanced Access — vehicular and pedestrian Map not consistent with legal description Automatic Inflation Protection (5 years)
Supplemental Tax Lien Coverage
Enhanced Encroachment Protection (Public Utility Easements)
Water Rights Extraction Coverage
* Subject to deductible and maximum liability, which is less than the policy amount.
Coverage is for 1- 4 family residences This chart is intended for comparison purposes only and is not a full explanation of policy coverage. Policy coverages are subject to the terms, exclusions, exceptions and deductibles shown in the policy
Copyright 2015 Security Title: Content cannot be edited or reproduced without written permission from Security Title. All content herein is informational only and not intended to offer legal or financial advice.
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