February 2008

As you are aware, the new 2008 purchase agreements have an option for either an ALTA 98 Title Insurance Commitment or an ALTA 2006 Title Insurance Commitment (line items 188-190 on M.I.B.O.R. purchase agreement). The changes and differences in title insurance policies can become confusing very quickly. While there are numerous differences between the policies, our goal is to simplify these differences for you so you can be knowledgeable of such differences if and when your clients ask specific questions.

Attached you will find a comparison chart showing the differences between the policies along with a quick reference sheet for deciding which policy type to select for your client. Please note that both types of policies are not available on certain property types, types of transactions, etc. Therefore, the reference sheet will help guide you as to which policy would most likely fit a particular transaction type.

Please feel free to contact us with any questions. We are here to help you and your clients. If one of the sales reps cannot answer a specific question, we will make sure one of our attorneys will answer it for you.

As always, thank you for placing your trust and confidence in Abstract & Title. We truly appreciate working with all of you!

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