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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