Escrow & Title
The ALTA (American Land Title Association) owner's policy provides coverage for:
APhysical condition of the property
BSurvey-related issues not shown in public records, in addition to standard title defects✓ Correct
CFuture zoning changes
DHOA assessment disputes
Explanation
The ALTA extended coverage owner's policy covers additional risks beyond the standard policy, including survey-related issues (boundary disputes, encroachments) and other matters not discoverable from the public record alone.
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Key Terms to Know
Zoning
Local government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.
Title InsuranceInsurance protecting against financial loss from defects in a property's title that existed before closing but were unknown at the time of purchase.
Abstract of TitleA condensed history of a property's title, summarizing all recorded documents and encumbrances affecting it from the earliest record to the present.
Chain of TitleThe sequential record of all transfers of ownership for a piece of property from the original patent holder to the present owner.
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