Criminals are increasingly using fake IDs and forged deeds to steal equity or even sell homes that don’t belong to them. This can leave homeowners facing expensive legal battles to reclaim their property or money. The American Land Title Association (ALTA) has developed products to provide protection against seller impersonation and forgery fraud.
What Is the ALTA 49 Endorsement?
The ALTA 49 Endorsement is an addition to your Owner’s Title Insurance Policy and provides extra protection against future forgery of deeds or mortgages. This means if someone tries to illegally transfer or borrow against your home using forged documents, you’re covered.
Who Should Get It?
- Homebuyers: If you’re buying a home and getting an ALTA Owner’s Title Insurance Policy, the ALTA 49 Endorsement adds this important protection from the start.
- Current Homeowners: If you already have an ALTA Owner’s Title Insurance Policy, you can add similar protection with the ALTA 49.1 Endorsement.
Why It Matters
- Long-Term Coverage: You’re protected for as long as you own your home.
- Covers Forged Deeds & Mortgages: Helps if someone tries to steal your home or take out a mortgage in your name.
- Peace of Mind: Your title insurance company stands behind your ownership rights, so you don’t have to fight fraud alone.
Example
Imagine someone forges your signature and sells your home without your knowledge. With the ALTA 49 Endorsement, your title insurance company would help defend your ownership and cover related losses.
Note: The ALTA 49 Endorsement can add forgery protection when the ALTA Homeowner’s Policy is not available. The ALTA 49 Endorsement is not available in all markets.
