About Title Insurance

Enhanced Policy (aka ALTA Homeowner’s Policy of Title Insurance)

A purchaser of a 1-4 family residence who is considered a Natural Person (not a commercial or legal organization or entity) has the option of purchasing an enhanced owner’s policy of title insurance (aka ALTA Homeowner’s Policy of Title Insurance). The enhanced owner’s policy offers coverage above and beyond what the standard owner’s title insurance policy offers. For the additional coverage, there is an additional premium of 10-20% depending on the jurisdiction. Following is a brief comparison chart of the two policies:

Coverage Standard Policy Enhanced Policy
Title is vested in someone else Yes Yes
Defects caused by fraud or forgery Yes Yes
Unpaid taxes Yes Yes
Unmarketable title Yes Yes
Right of access Yes Yes
Automatic Policy Amount Increase No Yes
Existing Encroachments No Yes
Future Encroachments No Yes
Coverage related to the extraction of minerals from the Land No Yes
Coverage related to building permits No Yes
Use of Land as a single family residence violates existing zoning No Yes
Supplemental real estate taxes assessed due to construction or change of ownership or use that occurred prior to the policy date No Yes

The above chart only represents a few of the differences in coverage. To learn more about the enhanced owner’s policy, please contact us so we can put you in touch with one of our highly knowledgeable and skilled agents to assist you with your purchase.