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The New 2016 ALTA Commitment: Expressing Limitations on Liability
May 25, 2017
A significant change to one of the standard title insurance forms recently was approved by ALTA. The new 2016 ALTA Commitment both streamlines the existing features of the title insurance commitment and, for the first time, expressly sets out many of the fundamental title insurance industry assumptions underlying such commitments. Read for for a summary of the changes to the form, with a particular focus on the important new notice and the express prescription on the title insurance issuing agent’s limited role on behalf of the title insurer.
Contact ALTA at 202-296-3671 or communications@alta.org.
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