The American Land Title Association (ALTA) has given the green light to update four existing endorsement forms and introduce three brand-new ones. These changes focus on issues like forgery and solar equipment in residential real estate deals.
The ALTA Forms Committee has developed these forms and they've been approved by the Board of Governors. Before anything is finalized, ALTA is inviting feedback from members, Policy Forms Licensees, and industry professionals. If you’d like to weigh in, you’ve got until July 17 to send your comments to forms@alta.org. The draft forms are available for download here under the “For Public Comment | Recently Adopted Forms - Not Published” section.
New Endorsements
- ALTA 49 Endorsement – Forgery – New Owner’s Policy – Residential
- Purpose: The ALTA 49 Endorsement is designed to address the situation where the homeowner is purchasing an ALTA Owner’s Policy and would like post-policy coverage for deed or mortgage forgery, but where the ALTA Homeowner’s Policy is either not available or is not offered to the homeowner.
- ALTA 49.1 Endorsement – Forgery – Existing Residential Owner’s Title Policy
- Purpose: The ALTA 49 Endorsement is designed to address the situation where the homeowner has previously purchased an ALTA Owner’s Policy and would like post-policy coverage for deed or mortgage forgery.
- ALTA 50 Endorsement – Residential Solar – Loan Policy
- Purpose: The ALTA 50 Endorsement is designed to address originating lenders’ requirements for the deletion of exceptions for recorded documents referencing leased or third-party solar equipment, in order to meet Fannie Mae and Freddie Mac selling guide requirements.
Revised Endorsements
The following endorsements have been updated from their 2006 versions, with significant revisions made to the exclusions section to better define the extent of coverage.
- ALTA 9 Endorsement – Restrictions, Encroachments, and Minerals – Loan Policy
- ALTA 9.7 Endorsement – Restrictions, Encroachments, and Minerals – Land Under Development – Loan Policy
- ALTA 9.10 Endorsement – Restrictions, Encroachments, and Minerals – Current Violations – Loan Policy
- ALTA 36.6 Endorsement – Energy Project – Encroachments
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