ALTA Title Policy definition

ALTA Title Policy means the owner's title insurance policy in an amount not to exceed the Purchase Price issued by the Title Insurer in the condition required and approved by Buyer in the Final Pro Forma Title Policy, prepared in accordance with all standards and industry practice, and without any exceptions, including any of the standard title policy exceptions, other than the Permitted Encumbrances, together with affirmative insurance for the Access Roads, Crossing Agreements and Drain Agreements benefitting the Project.
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ALTA Title Policy means the title insurance policy issued by the Title Insurer in the condition required and approved by Buyer in the Final Pro Forma Title Policy, prepared in accordance with all standards and industry practice, and without any exceptions, including any of the standard title policy exceptions, other than the Permitted Encumbrances, together with affirmative insurance for the Access Roads, Crossing Agreements and Drain Agreements benefitting the Project.
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ALTA Title Policy means with respect to a Country Club Property an ALTA policy of title insurance (1970 Form), in states where available, and otherwise an extended coverage policy of title insurance, and in each case (i) issued by the Title Company, (ii) with no exception for creditor's rights (unless the deletion of such exception for creditor's rights is prohibited by the law of the state in which such title policy is being issued), (iii) naming Lender as insured, (iv) in the Title Insurance Amount, and (iv) showing the Mortgage on such Country Club Property as an encumbrance thereon subject only to Permitted Encumbrances, and the balance of the policy reflecting a state of title satisfactory to Lender in its reasonable discretion.
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Examples of ALTA Title Policy in a sentence

  • Please note special requirements for 504 projects: the ALTA Title Policy is required where it is available.

  • However, if Seller do not have a survey, or if the survey is no sufficient to obtain an ALTA Title Policy or equivalent, then Buyer may obtain an ALTA survey or equivalent of the Property.

  • If applicable, Buyer, at its cost, will have prepared an ALTA Survey using a licensed surveyor or civil engineer in sufficient detail to provide for the ALTA Title Policy, certified to Buyer and the Title Company in form satisfactory to Buyer without boundary, encroachment, or survey exceptions, which shall show the location of all easements and Improvements (“Survey”).

  • Property address and insureds’ names must be designated on the policy as on the ALTA Title Policy.

  • Seller shall pay the cost of the CLTA Title Policy, and Purchaser shall pay the cost of any endorsements, any additional costs for an ALTA Title Policy and any ALTA survey.

  • Holdings shall pay for any lender’s Title Policy or the cost of an ALTA Title Policy above the cost of a CLTA Title Policy.

  • Within five (5) days of the Effective Date of this Agreement, Purchaser shall order a commitment for an Owner's ALTA Title Policy, without Standard Exceptions (the "Commitment"), from Liberty Title Company (the "Title Company"), and shall provide a copy of the same to Seller upon receipt.

  • Owner will provide to the CITY proof of issuance of an ALTA Title Policy including protection against mechanics and other liens and guaranteeing the property to be free and clear of exceptions other than the mortgage liens and standard and customary exceptions.

  • Purchaser shall pay one-half (1/2) of the escrow fees, one-half (1/2) of the applicable city transfer taxes, all costs associated with Purchaser's financing, all of the recording costs with respect to the Deed, and the entire portion ALTA Title Policy not required to be paid by Seller (including endorsements).

  • ALTA Title Policy and independent survey with costs split equally showing title vested in Buyer’s name with no encumbrance or exceptions shown except those previously approved by Buyer’s in writing.


More Definitions of ALTA Title Policy

ALTA Title Policy is defined in Section 9.
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Related to ALTA Title Policy

  • Owner’s Title Policy means those certain ALTA extended coverage owner’s policies of title insurance issued in connection with the closing of the Mortgage Loan insuring the Mortgage Borrower as the owner of the Property.

  • Title Policy shall have the meaning set forth in Section 4.2.

  • Existing Title Policy means, the existing title insurance policy for the Property.

  • Title Policies has the meaning set forth in Section 6.17.

  • Title Insurance An American Land Title Association (ALTA) mortgage loan title policy form 1970, or other form of Title Insurance Policy acceptable to FNMA or FHLMC, including all riders and endorsements thereto, insuring that the Security Instrument constitutes a valid first lien on the related Mortgaged Property subject only to permitted encumbrances.

  • Title Insurance Policy A title insurance policy maintained with respect to a Mortgage Loan.

  • Title Insurance Policies means, with respect to each Individual Property, an ALTA mortgagee title insurance policy in a form acceptable to Lender (or, if an Individual Property is in a State which does not permit the issuance of such ALTA policy, such form as shall be permitted in such State and acceptable to Lender) issued with respect to such Individual Property and insuring the lien of the Mortgage encumbering such Individual Property.

  • ALTA means American Land Title Association, or any successor thereto.

  • Title Insurer means Chicago Title Insurance Company.

  • CLTA The California Land Title Association.

  • Title Commitment shall have the meaning set forth in Section 4.2.

  • Title Company means First American Title Insurance Company.

  • Title insurance agent means an agent licensed in this Commonwealth to solicit, negotiate, procure,

  • Title Insurance Company as defined in Section 6.1(o).

  • Title Commitments has the meaning set forth in Section 5.9.

  • Mortgage Policies has the meaning specified in Section 6.13(b)(ii).

  • Title Report has the meaning set forth in Section 5.4(b).

  • Preliminary Title Report A report issued by a title insurance company in anticipation of issuing a Title Insurance policy which evidences existing liens and gives a preliminary opinion as to the absence of any encumbrance on title to a Mortgaged Property, except liens to be removed on or before purchase or refinance, as the case may be, by the Borrower and Permitted Encumbrances.

  • Mortgage Policy has the meaning specified in Section 4.01(a)(iv)(B).

  • Survey means a survey of the Property prepared by a surveyor licensed in the State and satisfactory to Lender and the company or companies issuing the Title Insurance Policy, and containing a certification of such surveyor satisfactory to Lender.

  • Existing Mortgage has the meaning specified in Section 5.02(a)(vi).

  • Title V means Title V of the federal Act for the Senior Community Service Employment Program for Older Americans.

  • Permitted Exceptions shall have the meaning set forth in Section 4.3.

  • Closing Date Mortgaged Property as defined in Section 3.1(h).

  • Existing Survey means the existing ALTA survey of the Property.

  • Title Documents shall have the meaning set forth in Section 4.1.