Land Title Associations and Standardized Policies
In the United States, the American Land Title Association (ALTA) is a national trade association of title insurance underwriters and title insurance agents. ALTA has created standard forms of title insurance policy "jackets" (standard terms and conditions) for Owners, Lenders and Construction Loan policies. ALTA forms are used in most, but not all, U.S. states. ALTA also offers special endorsement forms for the various policies; endorsements amend and typically broaden the coverage given under a basic title insurance policy. ALTA does not issue title insurance; it provides standardized policy and endorsement forms that most title insurers issue.
Some states, including Texas and New York, may mandate the use of forms of title insurance policy jackets and endorsements approved by the state insurance commissioner for properties located in those jurisdictions, but these forms are usually similar or identical to ALTA forms.
In addition to ALTA, which primarily represents the interests of national title insurance underwriters in the title insurance industry, the National Association of Independent Land Title Agents (NAILTA) is a national non-profit trade association that represents the interests of independent title insurance agents and independent real estate settlement professionals from across the United States. It was created by independent real estate settlement professionals to further the agenda of small business owners from within the title insurance, abstracting, surveying, and real estate community who lack representation at local, state and national levels. NAILTA is a national trade association that serves thousands of independent title and real estate professionals across the United States who collectively comprise over 60% of the national title insurance market and identify themselves as independent settlement service providers. NAILTA represents the interests of those independent settlement service providers who serve over 31 million real estate purchase consumers per year, who close an estimated $514.8 billion dollars’ worth of refinance mortgages per year and who collectively insure approximately $1.67 trillion dollars in total national title insurance liability per year.
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Famous quotes containing the words land, title, associations, standardized and/or policies:
“The land of joy, the lovely glades of the fortunate woods and the home of the blest.”
—Virgil [Publius Vergilius Maro] (70–19 B.C.)
“Men don’t and can’t live by exchanging articles, but by producing them. They don’t live by trade, but by work. Give up that foolish and vain title of Trades Unions; and take that of Labourers’ Unions.”
—John Ruskin (1819–1900)
“There is ... no glamor at banquets—I mean the large formal banquets of big associations and societies. There is only a kind of dignified confusion that gradually unhinges the mind.”
—James Thurber (1894–1961)
“Twenty or thirty years ago, in the army, we had a lot of obscure adventures, and years later we tell them at parties, and suddenly we realize that those two very difficult years of our lives have become lumped together into a few episodes that have lodged in our memory in a standardized form, and are always told in a standardized way, in the same words. But in fact that lump of memories has nothing whatsoever to do with our experience of those two years in the army and what it has made of us.”
—Václav Havel (b. 1936)
“Modern women are squeezed between the devil and the deep blue sea, and there are no lifeboats out there in the form of public policies designed to help these women combine their roles as mothers and as workers.”
—Sylvia Ann Hewitt (20th century)