Escrow & Title
What is the difference between a standard title insurance policy and an extended coverage (ALTA) policy?
AStandard policies cover more risks than ALTA policies
BALTA policies cover additional risks such as survey matters and off-record matters✓ Correct
CThey are identical in coverage
DStandard policies are only for lenders
Explanation
An ALTA (American Land Title Association) extended coverage policy provides broader protection than a standard policy, covering risks such as survey issues, off-record easements, and matters that a physical inspection would reveal. Lenders often require ALTA policies.
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