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American Land Title Association (ALTA)
Practical Law Glossary Item 7-508-5868 (Approx. 3 pages)
Glossary
American Land Title Association (ALTA)
The national trade association and voice of the title insurance industry, including:
- Title insurance companies that issue title insurance policies.
- Title abstracters that search the local public records relating to a particular parcel of real property and provide a summary of their findings.
ALTA develops the ALTA title insurance forms that are commonly used voluntarily by title insurers across the US. ALTA also works to develop a better understanding of the title insurance industry for those involved in real estate transactions.
In addition, ALTA provides many other services to the title insurance industry and the real estate community involved with title insurance matters, including:
- Education. Through its many publications ALTA provides title industry specific education and updates.
- Representation on legislative and regulatory matters. At times ALTA may file amicus curiae briefs with federal and state appeals courts in cases of major importance to the title insurance industry. ALTA also monitors legislative and judicial developments relating to title insurance matters, and ALTA often liaisons with:
- the federal government and its agencies on legislative and regulatory issues;
- affiliated state title associations in connection with pertinent state legislation; and
- the National Association of Insurance Commissioners, other appropriate national organizations, and its state title affiliates on regulatory matters.
- Improvement. ALTA works to improve the land title records and accounting principles.
ALTA's members are in business in most counties across the US. Nearly all title insurance companies in the US hold ALTA membership.