Escrow & Title
In New Mexico, a standard coverage versus ALTA (American Land Title Association) owner's title insurance policy differs in that ALTA provides:
ALower premiums
BExtended coverage including protection against survey-related issues, easements, and risks that require a survey to identify✓ Correct
CCoverage only for lenders
DCoverage against physical defects
Explanation
ALTA extended coverage policies provide broader protection than standard coverage policies, including survey exceptions and risks that would be revealed by a survey (encroachments, boundary disputes). Lenders typically require ALTA lender policies.
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