Protecting Homeowners and Breaking Down Barriers
Beyond Closing Day, title professionals are committed to protecting homeowners and making homeownership more accessible and sustainable. ALTA is proud to work alongside government and real estate industry partners to protect consumers from threats to their property rights and break down barriers to homeownership – the greatest source of wealth in the United States.
Non-Title Recorded Agreements for Personal Services (NTRAPS)
ALTA supports efforts to protect consumers by prohibiting the filing of unfair real estate fee agreements in property records, so-called Non-Title Recorded Agreements for Personal Services (NTRAPS).
ALTA believes NTRAPS create impediments and increase the costs and complexity of financing or transferring real estate, and advocates for state laws and regulations preventing enforcement of NTRAPS.
A subgroup of ALTA’s State Legislative/Regulatory Action Committee worked with national stakeholders to draft a model bill prohibiting the recording of unfair service agreements and making existing agreements unenforceable.
In partnership with other industry groups and government leaders, ALTA is working to address the issue of heirs’ property – a major hurdle to wealth building.
ALTA has brought together industry and outside experts to discuss the various ways industry and government can address the issue of heirs’ property, including how to quantify heirs’ property, how to better leverage estate planning tools and resources, and how to expand access to programs and services for those with heirs’ property.
ALTA has endorsed the Uniform Partition of Heirs Property Act (UPHPA), which has now been enacted in 22 states.
ALTA is working on identifying solutions to address discriminatory covenants in land records, which previously prohibited the sale or lease of property based on race, ethnicity, or religion.
A working group of industry experts convened by ALTA are examining key state legislative approaches to addressing the existence of discriminatory covenants in land records.
On the federal level, ALTA supports Sen. Tina Smith’s Mapping Housing Discrimination Act, which would provide funding to research and document discriminatory covenants.
ALTA Good Deeds Foundation
The ALTA Good Deeds Foundation has raised over $1 million for local nonprofit organizations making an impact in their communities.
Since ALTA launched the Foundation in 2020, it has given away $568,000 in grants to 97 community nonprofits in 36 states – plus Washington, D.C., with half of those grants directed to organizations that provide affordable housing opportunities, particularly for low- and moderate income, minority households.
The Foundation also provides emergency grants to organizations providing relief during humanitarian crises and natural disasters.