Page 11 - CTT buyer Seller 2021_English_Flipbook_1
P. 11

ALTA Homeowner’s Policy (1-4 Family Residences)
    1. Someone else owns an interest in your title to the property
2. A document is not properly signed
3. Forgery and fraud
4. Defective recording of certain documents
5. Restrictive covenants
6. There is a lien on your title because there is:
a) a deed of trust
b) a judgment, tax or special assessment
c) a charge by the HOA (homeowner’s assoc.)
7. Title is unmarketable
8. Lack of right of access to and from the land
 9. 10.
11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. 26. 2 7. 28. 29. 30. 31. 32. 33. 34. 35. 36. 3 7. 38.
Mechanics’ Lien protection
Forced removal of structure because it:
a) extends on other land or onto an easement
b) violates a restriction in Schedule B of policy
c) violates an existing zoning law
Cannot use land for SFD (single-family dwelling)
Unrecorded lien by the HOA
Unrecorded easements
Others have rights arising out of leases, contracts or options Pays rent for substitute residence
Inflation Protection
Building permit violations – forced removal*
Subdivision Map Act violations*
Boundary wall or fence encroachment - forced removal* Restrictive covenant violations
Post-policy defect in title
Post-policy contract or lease rights
Post-policy forgery
Post-policy easement
Post-policy limitation on use of land
Post-policy damage from minerals or water extraction Post-policy living trust coverage
Post-policy encroachment by neighbor other than wall or fence Enhanced access-vehicular and pedestrian
Damage to structure from use of easement
Post-policy automatic increase of 10% annually up to 150% Post-policy correction of existing violation of covenant
Home address is incorrect
Map not consistent with legal description
Coverage for spouse acquiring through divorce
Violations of building setbacks
Discriminatory covenants
Insurance coverage forever
 Disclaimer: Duetovariationsinthepolicylanguageanddefinitions,theforegoingisprovided for informational purposes only. Policy forms are available upon request and you are encouraged to request copies of policy forms for your review. The policy that is issued to an insured controls the terms and conditions of the insurer’s obligations to its insured.
Policy Deductible
Policy Max Limit of Liability
CoveredRisk17: 1%ofPolicyamountshowninScheduleAor$2,500.00(whicheverisless) CoveredRisk18: 1%ofPolicyamountshowninScheduleAor$5,000.00(whicheverisless) CoveredRisk19: 1%ofPolicyamountshowninScheduleAor$5,000.00(whicheverisless)
$10,000.00 $25,000.00 $25,000.00
Complete Homeowner’s Policy
The deductible amounts and maximum dollar limits shown on Schedule A are as follows:
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.
*Subject to deductible and maximum liability, which is less than the policy amount.

   9   10   11   12   13