CLTIC ALTA Policy Comparisons

ALTA LOAN POLICY COMPARISON CHART This comparison chart is intended as a guide to identifying differences between the 2021 and 2006 ALTA policies. It should not be relied upon for the interpretation of these policies. Updated 07-14-2021 ALTA LOAN POLICY COMPARISON CHART Page | 2 2006 ALTA LOAN POLICY 2021 ALTA LOAN POLICY COMPARISON (v. 7-30-2021) COMMENTS (v) a document executed under a falsified, expired, or otherwise invalid power of attorney; (v). a document executed under a falsified, expired, or otherwise invalid power of attorney; SAME. (vi) a document not properly filed, recorded, or indexed in the Public Records including failure to perform those acts by electronic means authorized by law; or (vi). a document not properly filed, recorded, or indexed in the Public Records, including the failure to performhave performed those acts by electronic means authorized by law; or SAME. (vii) a defective judicial or administrative proceeding. (vii). a defective judicial or administrative proceeding; or SAME. viii. the repudiation of an electronic signature by a person that executed a document because the electronic signature on the document was not valid under applicable electronic transactions law. IMPROVED COVERAGE. This coverage is similar to the coverage provided by Covered Risk 2.a.iii in the 2006 and 2021 ALTA policies, but now expressly addresses the “repudiation” of an electronic signature. (b) The lien of real estate taxes or assessments imposed on the Title by a governmental authority due or payable, but unpaid. (b). Thethe lien of real estate taxes or assessments imposed on the Title by a governmental authority due or payable, but unpaid. SAME. (c) Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting the Title that would be disclosed by an accurate and complete land survey of the Land. The term “encroachment” includes encroachments of existing improvements located on the Land onto adjoining land, and encroachments onto the Land of existing improvements located on adjoining land. (c). Any encroachment, the effect on the Title of an encumbrance, violation, variation, or adverse circumstance affecting the Title that, boundary line overlap, or encroachment (including an encroachment of an improvement across the boundary lines of the Land), but only if the encumbrance, violation, variation, adverse circumstance, boundary line overlap, or encroachment would behave been disclosed by an accurate and complete land title survey of the Land. The term “encroachment” includes encroachments of existing improvements located on the Land onto adjoining land, and encroachments onto the Land of existing improvements located on adjoining land. IMPROVED COVERAGE. The 2021 ALTA policies now include express coverage with respect to boundary line overlaps. 3. Unmarketable Title. 3. Unmarketable Title. SAME. 4. No right of access to and from the Land. 4. No right of access to and from the Land. SAME. 5. The violation or enforcement of any law, ordinance, permit, or governmental regulation (including those relating to building and zoning) restricting, regulating, prohibiting, or relating to 5. TheA violation or enforcement of anya law, ordinance, permit, or governmental regulation (including those relating to building and zoning) restricting, regulating, prohibiting, or relating to), but only to the extent of the violation or enforcement described by the enforcing governmental authority in an Enforcement Notice that identifies a restriction, regulation, or prohibition relating to: SIMILAR. The 2021 ALTA policies include a new defined term “Enforcement Notice” and revise the defined term “Public Records.” The term “Public Records” does not include any record pertaining to environmental protection, planning, permitting, zoning, licensing, building, health, public safety, or national security matters unless the record is contained in an Enforcement Notice. (a) the occupancy, use, or enjoyment of the Land; (a). the occupancy, use, or enjoyment of the Land; SAME. (b) the character, dimensions, or location of any improvement erected on the Land; (b). the character, dimensions, or location of anyan improvement erected on the Land; SAME. (c) the subdivision of land; or (c). the subdivision of landthe Land; or SAME. (d) environmental protection (d). environmental remediation or protection on the Land. BROADENED. Environmental protection now expressly includes environmental “remediation.” if a notice, describing any part of the Land, is recorded in the Public Records setting forth the violation or intention to enforce, but only to the extent of the violation or enforcement referred to in that notice. if a notice, describing any part of the Land, is recorded in the Public Records setting forth the violation or intention to enforce, but only to the extent of the violation or enforcement referred to in that notice. SAME. The term “Enforcement Notice” of the 2021 ALTA policies addresses the notice that is covered.