ALTA RESIDENTIAL POLICY
The ALTA Residential Policy is an owner’s policy insuring owners of 1-4 family residential lots or condominium units. In addition to the basic coverage provided by the CLTA policy, the ALTA residential policy protects the insured against losses caused by:
Mechanic Liens (labor and material liens) arising out of work done on the property which the insured did not agree to or agree to pay for
Major encroachments – The insured is protected against forced removal of an existing structure (other than a boundary wall or fence) because it extends onto adjoining land or onto an easement
Unrecorded interest arising from off record leases, contracts or option
Zoning Compliance (as long as property in question and zoning are both residential) CC&Rs compliance
Most title companies will insure a seller carry back deed of trust under an ALTA residential policy by endorsement (an addendum to a title policy with a small additional cost). This is the only type of deed of trust that may be insured under this policy.
Major encroachments – The insured is protected against forced removal of an existing structure (other than a boundary wall or fence) because it extends onto adjoining land or onto an easement
Unrecorded interest arising from off record leases, contracts or option
Zoning Compliance (as long as property in question and zoning are both residential) CC&Rs compliance
Most title companies will insure a seller carry back deed of trust under an ALTA residential policy by endorsement (an addendum to a title policy with a small additional cost). This is the only type of deed of trust that may be insured under this policy.
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