Escrow & Title
In Virginia, the standard 'owner's title insurance' form from ALTA provides coverage for which type of defects?
AOnly defects arising after the policy date
BTitle defects existing as of the policy date including forgery, fraud, errors in records, and undisclosed heirs✓ Correct
CPhysical property defects
DEnvironmental contamination
Explanation
The ALTA Owner's Policy covers title losses arising from pre-existing defects such as forgeries, fraud, errors in public records, unknown liens, undisclosed heirs, and certain other covered risks.
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