Escrow & Title
An owner's extended title insurance policy (ALTA) in Utah provides protection not found in a standard policy, including coverage for:
AFuture tax liens
BUnrecorded easements and encroachments identified by a current survey✓ Correct
CProperty value declines
DEnvironmental contamination
Explanation
An ALTA extended policy provides additional coverage over the standard policy, including coverage for unrecorded easements, boundary disputes, and encroachments disclosed by a survey—risks not covered in a standard policy.
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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.
EasementA non-possessory right to use another person's land for a specific purpose.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
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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