CLTA News Express
An Express Article from the California Land Title Association
CLTA Files New ALTA Policies and Endorsements, New Usury Endorsement Filed
Bulletin 06/07-43 - September 18, 2006
The CLTA has filed with the Department of Insurance the new 2006 ALTA Owner’s Policy, 2006 ALTA Loan Policy and 2006 ALTA Short Form Residential Loan Policy along with 10 new ALTA endorsement forms.
The new endorsement forms include:
- Condo/PUD Endorsements covering unpaid charges as of the policy date;
- Manufactured Housing endorsements for units which are real property;
- Mineral extraction endorsements for damages to future improvements due to surface entry rights;
- Reverse mortgage endorsements addressing future advances;
- Location and map endorsements which can be used for either the Owner’s or the Loan Policy.
- A new CLTA Usury Endorsement was also filed as CLTA Endorsement 132
- 33 existing CLTA/ALTA endorsement forms were modified for use with the 2006 policies
- The Preliminary Report Form Exhibit A is changed to include the exclusions in the new 2006 ALTA policies
The forms become effective 30 days after filing with the Department of Insurance.
