Forkels 03 title policy comparison
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The document compares different types of title insurance policies - Homeowner (CLTA), Refinance (ALTA), and ALTA Homeowners policies. It lists 37 potential issues that each type of policy covers, such as someone else owning a recorded interest, forgery or fraud, and restrictive covenants. The Homeowner and Refinance policies cover fewer potential issues than the enhanced ALTA Homeowners policy, which provides additional coverage for items like forced removal of structures, zoning violations, and boundary encroachments.
Forkels 03 title policy comparison
- 1. Title Policy Comparison Homeowner Refinance ALTA (CLTA) (ALTA) Homeowners 1. Someone else owns a recorded interest in your title. X X X 2. A document is not properly signed. X X X 3. Forgery, fraud, duress, incompetency. X X X 4. Defective recording of any document. X X X 5. Unmarketability of title. X X X 6. Restrictive covenants. X X X 7. Lack of a right to access to and from the land. X X X 8. Mechanic’s lien protection. X X 9. Forced removal of the structure - encroachments. X X 10. Forced removal of the structure - restrictions. X X 03 11. Forced removal of the structure - zoning. X X 12. Cannot use land for SFR due to zoning or restrictions. X X Title Policy Comparison 13. Unrecorded liens by the homeowner’s association. X X 14. Unrecorded easements. X X 15. Others have rights arising out of leases, contracts, or options. X X 16. Pays rent for substitute housing. X X 17. Plain language. X X 18. Building permit violations - forced removal. X 19. Subdivision map Act violations. X 20. Zoning violations - forced removal. X 21. Boundary wall of fence encroachment. X 22. Restrictive covenant violations. X 23. Post policy defect in title. X 24. Post policy contract or lease rights. X 25. Post policy forgery. X 26. Post Policy easement. X 27. Post policy limitation on use of land. X 28. Post policy encroachment by neighbor other than wall or fence. X 29. Enhanced access - vehicular and pedestrian. X 30. Damaged to structure from use of easement. X 31. Street address is correct. X 32. Map shows correct location of the land. X 33. Exercise of miniral rights. X 34. Sale fails due to neighbor’s encroachments. X 35. Living trust coverage. X 36. Coverage of spouse acquiring through divorce. X 37. Automatic policy increase up to 150% X 38. Forced removal due to building setbacks. X 39. Discriminatory covenants. X 40. Insurance coverage forever. X Note: items marked within are subject to a deductible and maximum liability, which is less than the policy amount. 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 & deductibles shown in the policy. Brian & Sara Forkel Account Executive Cell: (909) 262‐9094 • Cell: (909) 573‐6384 Forkels4title@live.com • www.forkels4title.com Customer service/ Open Orders: (888) 282‐5885 Material discussed is meant for general illustration and/or infomercial purposes only and it is not to be considered as tax, legal, or investment advice. Although the information has been gathered from sources believed to be reliable, please note that individual situations can vary, therefore, please consult a professional for specific advice.