ALTA Policy, Endorsements and Transaction Strategies With Title Insurance

This OnDemand Webinar will examine the changing role of title insurance in real estate transactions and review policy forms, with an emphasis on the 2006 ALTA Policy. Using the commitment for title insurance, this program will cover how you can avoid title pitfalls and coverage gaps, expedite a pre-closing response to coverage requests, and ultimately enhance coverage. Critical legal issues and practical considerations often coincide with factors that mask underlying real estate title impediments. Distinguishing among the array of popular endorsements and obtaining endorsements that matter will be discussed. This program is designed to cover a wide range of title issues and their resolution using both the basic title insurance policy and expanded coverage alternatives.

Authors

Agenda

Purpose and Nature of Title Insurance

• Pitfalls of the Public Land Records and the Recording System
• Protection and Safety
• Abstracts of Title Compared
• Casualty Insurance Distinguished

Types of Policies

• ALTA Owner's Policy
• ALTA Loan Policy
• Evolving Policy Forms
• Components of a Typical Title Insurance Policy

- Covered Risks

- Exclusions

- Conditions

- Schedule A

- Schedule B

- Schedule B - Part II

- Endorsements

Procedures and Information

• Placing an Order Properly
• The Search and Examination Process
• Spectrum of Interests in Land, Insurable and Uninsurable

- Fee Simple

- Leaseholds

- Easements

- Mortgages

- Other Estates and Interests

- On the Periphery: Personal Property, Licenses, Airspace, Water

Getting Ready for Closing

• Commitment

- Schedule A

- Schedule B

• Clearance

- Extended Coverage

- Identity, Capacity and Authority

- Real Estate Taxes

- Judgments and Tax Liens

- Mechanics Lien Claims, Statutory Liens

- Mortgages

- Bankruptcy and Pending Litigation

- Easements, Covenants and Restrictions

- Foreclosure and Deeds in Lieu

Endorsements

• Array of ALTA Endorsements
• Endorsements That Matter
• Endorsements for the Connoisseur
• Affirmative Coverage

Miscellaneous

• 2006 ALTA Policy Comparison to 1992 ALTA Policy
• Risks Associated With New Construction
• Impact of Real Estate Downturns on Availability, Content of Coverage

Additional Formats