CLTA Form Filing Effective
Tuesday, October 18, 2016
Co-Insurance – Multiple Polices: The new CLTA 114.4-06/ALTA 23.1-06 can be issued with either Owner’s or Loan Policies and contemplates the apportionment of liability by a co-insurer if multiple title insurance policies are being issued on separate tracts of land.
Multiple Tax Parcels: The new CLTA 129.2-06 (08-01-16)/ALTA 18.2-06 endorsement is similar to the current multiple tax parcel endorsement except without the insurance regarding priority of easements over taxes applicable to the servient estate. The existing endorsement remains available for use.
Title Commitment: The revised ALTA Commitment for Title Insurance updates and consolidates the two 2006 versions of the ALTA Commitment forms: the ALTA Commitment Form (6-17-06) and the ALTA Plain Language Commitment Form (6-17-06).
New ALTA forms adopted in 2015 effectively replaced the ALTA Expanded Coverage Residential Loan Policy (12-02-13) and ALTA Short Form Expanded Coverage Residential Loan Policy (04-02-14). Therefore, the forms were withdrawn.
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