CLTA Files Forms
Tuesday, November 20, 2018
The CLTA, in its capacity as an advisory organization under the Insurance Code, made the following form filing effective 09/29/2018:
ALTA Recorded Document Guarantee (10-03-90) filed and CLTA Guarantee Form 27 withdrawn.
This form was originally developed to meet the growing market demand for a form to facilitate due diligence requirements under the Comprehensive Environmental Response Compensation and Liability Act of 1980 (CERCLA). The CLTA created the CLTA Guarantee Form No. 27 (Recorded Document Guarantee) in response to landowner’s requests as part of their investigation of prior ownerships and uses of the subject real property. The Guarantee is provided solely for the purpose of facilitating any innocent landowner or purchaser defenses which may be available under CERCLA.
The ALTA subsequently created the ALTA Recorded Document Guarantee. Because the language of the ALTA Recorded Document Guarantee and the CLTA Guarantee No. 27 is almost identical, there is no need to continue to update the CLTA form and therefore, the CLTA Guarantee Form No. 27 is being withdrawn.
CLTA Form 100.1 (08-01-18) | Restrictions, Encroachments & Minerals (Loan Policy) - Amended
A technical correction was made to add the word “flooding” to exclusion paragraph 5(a) to confirm with recent amendments to other CLTA forms.