California Land Title Association
The California Land Title Association (CLTA) is a non-profit corporation, founded in 1907, representing member title companies throughout the State of California. The Association's membership is comprised of title insurance companies and underwritten title companies conducting business in the state. Title insurers are authorized by the Department of Insurance to conduct business throughout California, while underwritten title companies are authorized by the Department of Insurance to issue policies of title insurance in a particular county pursuant to an agreement with a title insurer. Affiliate members are also included in the membership of the CLTA. These affiliates include attorneys, lenders, builders, surveyors, trustees, escrow agents, consultants and computer firms.
The Goals of CLTA include:
Expediting the transfer and insurance of title to real property throughout California;
Increasing the public's awareness of the value and purpose of title insurance;
Protecting and defending private property rights.
What We Do:
The Association assists in the development of recommended forms and practices for possible use by member companies in the issuance of title insurance. The CLTA also monitors judicial decisions affecting title to real property and files briefs in cases of statewide significance. Additionally, the CLTA is active in the advocacy and monitoring of legislation and regulations affecting the title industry.
The Association also provides a variety of services to the title industry and the public including: an annual summary of legislation, an annual directory of members, and a compendium of CLTA policies and endorsements. In order to further facilitate an understanding of the title industry, the Association publishes a quarterly newsletter and a series of consumer oriented information brochures dealing with various real estate related topics. The CLTA also offers educational programs designed to promote professionalism through general educational seminars and specific training courses.
A major goal of the Association is to promote public awareness and an understanding of the title insurance industry. Title insurance indemnifies against loss under the terms of the policy. Title companies work in advance of issuing a title policy to identify and eliminate risks, thereby preventing losses caused by title defects that may have arisen in the past.
Title insurance differs from casualty insurance in that the greatest part of the title insurance premium dollar goes towards risk elimination. Title companies maintain "title plants" which contain information regarding property transfers and liens reaching back many years. Maintaining these title plants, along with searching and examining title to properties, is where most of the title premium dollar goes.
Professionals in the real estate market, as well as the home buying public, benefit considerably from the commitment to excellence that is routine in the work of CLTA members. Involvement by a title company often is thought of as the catalyst that allows a real estate closing to proceed smoothly toward completion.
For over one hundred years, the CLTA has been encouraging professionalism, financial stability and integrity in the title industry. The Association welcomes the opportunity to respond to questions about its industry.