Why This Matters
Real estate fraud is on the rise. Criminals are using forged documents and stolen identities to impersonate property owners, sell homes that don’t belong to them, and disappear with the proceeds. This is called seller impersonation fraud- and it’s one of the fastest- growing threats to homeowners today.
To help protect your home ownership and your family’s future, ALTA has released two new endorsements that can be added to your owner’s title insurance policy, providing valuable protection before and after you buy your home
The New ALTA Endorsements
Forgery-Nwe Owners’ Policy-Residential – $200
• For new homebuyers purchasing an ALTA Owner’s Policy.
• Provides post-policy coverage fi someone forges a deed or mortgage after you close.
• Designed for homeowners where the ALTA Homeowner’s Policy is not available.
Forgery – For Existing Residential Owners’ Title Policy – $250
• For current homeowners who already have an ALTA Owner’s Policy.
• Alows you to add forgery protection after closing.
• Covers losses caused by forged deeds or mortgages
recorded after the date of the endorsement for which you had no knowledge.
Why Add Forgery Coverage?
• The standard ALTA 2021 Owner’s Policy only provides coverage for defects ni title caused by forgery prior ot the date of the policy. These new endorsements expand
coverage for unauthorized property transfers resulting from forgery occurring after closing.
• Safeguards against financial loss caused by post-policy forgery of a deed or mortgage recorded ni the public records on one-to-four family residential properties without the insureds knowledge or consent.
• Offers peace of mind ni an era where digital fraud and identity theft are increasing.
Next Steps
• Ask your title insurance agent about adding the ALTA 49 (for new policies) or the ALTA 49.1 (for existing policies) ot your owner’s policy.
• Confirm your eligibility – the endorsements are only available for residential one-to-four family homes owned
by a Natural Person or Estate Planning Entity (as defined in the Endorsement).
