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News & Press: Industry News

ALTA Approves Technical Change to Closing Protection Letters

Tuesday, August 20, 2019  
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ALTA’s Forms Committee approved a technical correction to the ALTA Closing Protection Letters that is effective Aug. 1, 2019 and applies to CPLs for both single and multiple transactions. Because it is a technical correction, the effective date remains Dec. 1, 2018.

The change removes the word “to” from paragraph 4.b and reads as follows:

(b) fraud, theft, dishonesty, or misappropriation by the Issuing Agent or Approved Attorney in handling Your Funds or documents in connection with the closing, but only to the extent that the fraud, theft, dishonesty, or misappropriation adversely affects the status of the Title to the Land or to the validity, enforceability, or priority of the lien of the Insured Mortgage on the Title to the Land.

California Land Title Association

1215 K Street #1816 Sacramento, CA 95814-3905
Email:  |  Phone: 916-444-2647  |   Fax: 916-444-2851