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Logo of the American Land Title Association, founded in 1907. The American Land Title Association (ALTA), founded in 1907, is the national trade association representing more than 6,400 title insurance companies, title and settlement agents, independent abstracters, title searchers and real estate attorneys. ALTA's headquarters is in Washington ...
The remaining 20 percent covers the insurance policy, a significant portion of which is put into reserves for claims that could occur 10 or 20 years in the future. According to a 2006 survey by ALTA, [24] title problems that required curative action were found in 36 percent of all residential real estate transactions in 2005. This was up from ...
Title insurance policies typically cost .67% of the property’s sale price, according to the American Land Title Association (ALTA). The total costs of a title insurance premium, ...
This page was last edited on 15 May 2015, at 05:50 (UTC).; Text is available under the Creative Commons Attribution-ShareAlike 4.0 License; additional terms may apply ...
The objective of the title search is to establish clear, marketable title by exposing any outstanding claims prior to the transfer of title. The process of resolving any issues on the title is known as "clearing the title." [2] Each recorded document must name the parties involved, e.g., grantor and grantee.
LandAmerica Financial Group, Inc. was the third largest title insurance group in the US. It was incorporated in 1991 as Lawyers Title Corporation, and renamed LandAmerica after Lawyers Title acquired Commonwealth Land Title Insurance Company and Transnation Title Insurance Company in 1998. It was headquartered in Glen Allen, Virginia.
The record title system differs significantly from land registration systems, such as the Torrens system, that have been adopted in a few states. The principal difference is that the recording system does not determine who owns the title or interest involved, which is ultimately established through litigation in the courts.
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