April 2021 ALTA Update

Recently, the American Land Title Association (ALTA) announced adopted changes to the 2021 ALTA Commitment, Loan Policy and Owner's Policy. The proposed changes were open to review and public comment through December 31, 2020. ALTA is currently reviewing all comments. 

The intended effective date of the revised forms is July 1, 2021.

Download the forms to review the proposed changes here: Proposed ALTA Form Changes
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Additionally, the ALTA Board of Governors approved revisions to existing Closing Protection Letters (CPLs) and adopted two new addendums and four new endorsements.

Endorsements:

• ALTA Endorsement 47[-06]: Operative Law Owner's Policy Endorsement 
• ALTA Endorsement 47.1[-06]: Operative Law Loan Policy Endorsement 
• ALTA Endorsement 47.2[-06]: Operative Law Homeowner's Policy Endorsement
• ALTA Endorsement 47.3[-06]: Operative Law Expanded Coverage Residential Loan Policy

Addendums:

• ALTA Addendum: Short Form Residential Loan Policy

• ALTA Addendum: Short Form Expanded Coverage Residential Loan Policy 

Closing Protection Letters:

• ALTA Closing Protection Letter - Multiple Transactions (04-02-2021)
• ALTA Closing Protection Letter - Single Transactions (04-02-2021)