New CLTA Form Filings
Wednesday, January 18, 2017
New CLTA Form Filing
CLTA Interim Binder
The CLTA Interim Binder, which is not a policy of title insurance was amended to clarify the date of termination. The new Interim Binder form makes it clear that a policy will be issued as of the date of the binder upon request with the same vesting shown in Schedule A of the binder subject only to the exceptions in Schedule B. In the alternative, if certain underwriting conditions are satisfied prior to the expiration of binder period of time as set forth in the Interim Binder, then a title insurer will issue a policy in favor of the grantee or lender as of the date of recording an instrument, insuring the estate, interest or lien subject only to Schedule B exceptions, the provisions of the applicable title insurance policy, any intervening matters that appear in the Public Records and off record matters disclosed after the Interim Binder issuance date. The Interim Binder form terminates upon the issuance of a policy.
Interim Binder Extension Endorsement
The Extension endorsement is new and unique to the Interim Binder product. This endorsement may be issued upon request prior to the expiration of the original term of the Interim Binder which operates to extend the term of the Interim Binder by a certain number of days.
CLTA Guarantee Form 22 | Trustee’s Sales Guarantee
CLTA Guarantee Form 22 was revised to refer to "public notice" districts instead of "judicial" districts in light of AB 2881, Chapter 703 which goes into effect on January 1, 2017.
Also included in this filing were technical changes to one policy, an additional guarantee and 13 endorsement forms.