Escrow & Title
In Maryland, ALTA stands for:
AAssociation of Licensed Title Agents
BAmerican Land Title Association✓ Correct
CAutomated Land Transaction Authority
DAssociation of Legal Title Attorneys
Explanation
ALTA (American Land Title Association) sets national standards for title insurance policies and surveys used in Maryland and throughout the United States.
People Also Study
Related Maryland Questions
- Maryland title companies typically issue which two types of title insurance policies?Escrow & Title (alternative)
- An owner's title insurance policy in Maryland protects:Escrow & Title
- Title insurance in Maryland protects against:Escrow & Title
- The ALTA/ACSM land title survey provides:Escrow & Title
- Maryland's National Flood Insurance Program (NFIP) participation means that properties in designated Special Flood Hazard Areas (SFHAs) may be required to:Environmental
- A Maryland seller pays 6% commission, $2,500 in attorney fees, and $1,800 in title insurance on a $480,000 sale. What are total closing costs?Real Estate Math
- In Maryland, which approach to value is NOT typically used for vacant land?Property Valuation (alternative)
Key Terms to Know
Title Insurance
Insurance protecting against financial loss from defects in a property's title that existed before closing but were unknown at the time of purchase.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
Deed of TrustA security instrument used in many states instead of a mortgage, involving three parties: borrower (trustor), lender (beneficiary), and a neutral trustee.
Comparable Sales (Comps)Recently sold properties similar in size, condition, and location used by appraisers and agents to estimate a property's market value.
Study This Topic
Practice More Maryland Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Maryland Quiz →