Page 26 - FNTA Buyers Guide_2020

Compare Coverage
Standard
ALTA Plain Language
Homeowners Policy
Someone else owns an interest in your title
•
•
*
A document is not properly signed
•
•
*
Forgery, Fraud, Duress
•
•
*
Defective recording of any document
•
•
*
There are no restrictive covenants
•
•
*
There is a lien on your title because there is: a) a deed of trust
b) a judgement, tax, or special
assessment
c) a charge by the homeowner’s assoc.
• •
•
• •
•
* *
*
Title is unmarketable
•
•
*
Mechanic’s lien protection
•
*
Forced removal of structure because it:
a) extends on to other land or on to an
easement
b) violates a restriction on Schedule B c) violates an existing zoning law
•
• •
*
* *
Can’t use land for single family dwelling because the use violates a restriction in Schedule B or a zoning ordinance
•
*
Pays rent for substitute land of facilities
•
*
Unrecorded lien by a homeowner’s association
•
*
Unrecorded easements
•
*
Rights under unrecorded leases
•
*
Plain language
•
*
Building permit violations
*
Subdivision compliance
*
Restrictive covenants violations
*
Post policy forgery
* *
*
Post policy encroachment
Post policy structural damage from minerals extraction
Post policy Living Trust coverage
*
Enhanced Access - vehicular and pedestrian
*
Map not consistent with legal description
*
Automatic Inflation Protection (5 years)
*
Supplemental Tax Lien Coverage
* *
Enhanced Encroachment Protection (Public Utility Easements)
Water Rights Extraction Coverage
*
Coverage is for 1-4 family residences
This chart is intended for comparison purposes only and is not a full explanation of policy coverage. Policy coverages are subject to the terms, exclusions, exceptions and deductibles shown in the policy
TITLE POLICY CHART
* Subject to deductible and maximum liability, which is less than the policy amount.
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