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American Land Title Association (ALTA) - Explained

What is the American Land Title Association?

Written by Jason Gordon

Updated at March 11th, 2022

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Table of Contents

What is the American Land Title Association?What Does ALTA Do? What ALTA DoesALTA and Title Insurance

What is the American Land Title Association?

The American Land Title Association is a trade-inclined institution which stands as patron for the title insurance industry. This association also focuses on the abstract of title of a property. Established in 1907, this association seeks to protect the right of consumers as well as improve the performance of the industry. Members of ALTA also follow set down rules and ethical business practices as well as legal manners that consumers are comfortable with.

Back To: Real Estate, Personal, & Intellectual Property

What Does ALTA Do? 

The American Land Title Association is in charge of creating the title insurance forms and agreement templates that are used by insurers across the country. It is important to note that these forms are used by voluntarily, as no firm or insurer is compelled to apply these forms in their varying agreements. ALTA members make a review of different land titles and properties to protect lenders and home buyers. This association also offers resources for training in the industry through one of their intermediaries; the Land Title Institute (LTI). These resources are aimed at creating the best title and insurance practices. Most insurers in the nation are members of ALTA, and they perform different land and property-related businesses across the country. Most entities that create abstracts of titles are also members of this association. Members come from different fields in the real estate sector, with some being attorneys, builders, buyers and property brokers amongst others. Surveyors and lenders also make up a part of this association. Just like every lawful society, ALTA has 11 Governors (not political governors in this case) that create management policies as well as discuss different strategies to ensure that the association is financially active. This association also has 33 committee members under the 11-board governors.

What ALTA Does

ALTA, being a big and indispensable association, keeps contact with Congress members, the Federal National Mortgage Association, as well as the Federal Home Loan Mortgage Corporation. In fact, almost all agencies that have something to do with real estate has a relationship with this association. ALTA aims to increase the state of land title records, as well as present relevant education in this sector. At times, this association works alongside other organizations on pending state legislative positions related to land.

ALTA and Title Insurance

This association performs a title search sequel to the completion of a real estate transaction activity. It updates its search anytime a loan is refinanced or each time a property exchange hands. The purpose of this search is to check if there is any lien (in the case of mortgages) or other property-related burdens on the estate. This association provides two types of title insurance: the owners title insurance, and the lenders title insurance. The former protects the buyer, and the latter safeguards the lender.




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