Posts Tagged ‘CPL’

New ALTA Closing Protection Letter With Florida Modifications Corrects Unfortunate Case Law

BY MARTY SOLOMON
CLE Presented to FLTA Roundtable, April, 2018

The new American Land Title Association (ALTA) Closing Protection Letter (CPL) form recently took effect in Florida.

The new form both streamlines the previous CPL’s language and addresses and corrects many of the problems created by recent bad case law. It brings the CPL into line with longstanding understandings of CPL’s purpose and scope within the title insurance industry.

The clear and laudable aim of this new form is to create a better relationship among the contracting parties with clearer language and more sensible limitations on liability. This article summarizes revisions, with particular focus on those areas that address case law that led us astray.

This blog contains general information only, not intended to be relied upon as, nor a substitute for, specific professional advice. We accept no responsibility for loss occasioned to any purpose acting on or refraining from action as a result of any material on this blog.

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