ALTA Settlement Statement


What is ALTA

The American Land Title Association (ALTA) is the national trade association for the title insurance industry. The industry as a whole works to reduce risk before insuring to avoid any land title issues. ALTA has created the forms required for almost all title insurance transactions in the United States.

Why did ALTA create standardized forms?

ALTA has developed standardized ALTA Settlement Statements for title insurance and settlement companies to use to itemize all the fees and charges that both the homebuyer and seller must pay during the settlement process of a housing transaction. Having a standard form for nearly all title insurance policy transactions maintains that all exchanges of land are done smoothly and efficiently.

What kind of information is listed on the ALTA Settlement Statement?

The ALTA Settlement Statement includes information such as the property sales price, loan amount, prorations, adjustments, loan charges to the lender, impounds, title charges, commission, government recording and transfer charges and payoffs.


CLTA stands for the California Land Title Association. Like ALTA, CLTA is a trade association that represents title companies in the state of California.

Where the two associations differ is in the scope of their respective coverage. ALTA provides the broadest form of title insurance; ALTA covers everything that a CLTA policy covers, as well as other risks to the title not included in CLTA policies. CLTA policies do not cover public record issues and has a list of standard issues that it does not cover. ALTA insurance policies evaluate exceptions based on each individual title.

Additionally, ALTA policies are more expensive but also provide coverage you can’t receive through CLTA.

What other forms are ALTA Settlement Statements used with? How are they different?

ALTA Settlement Statements are used in conjunction with the HUD-1 settlement statement. Under the new CFPB regulations, most real estate transactions require the use of the new Closing Disclosure Form. However, the HUD-1 settlement statement is still used in certain cases such as:

  • Home equity revolving lines of credit
  • Reverse Mortgages
  • Mortgages secured by a mobile home
  • No-interest second mortgages

The ALTA Settlement Statements are to also be used alongside the new Closing Disclosure Form. If a settlement statement is used, the totals from this form must match the totals on the Closing Disclosure Form. The ALTA Settlement Statements are designed to be modified to allow settlement agents to add any fees applicable in their specific areas and to add items that are not otherwise disclosed on the loan estimate or closing disclosure forms.

Learn more about How to Use ALTA Settlement Statements

There are currently 4 versions of the ALTA settlement statement:

  1. Borrower/Buyer - This version is used by the borrower.
  2. Cash - This version is used for cash transactions.
  3. Combined - This version includes both borrower and seller information.
  4. Seller - This version is used by the seller.

EasySoft’s fully-integrated Real Estate Closing software complete ALTA settlement statements with ease and accuracy. Learn more about our Real Estate Closing Solutions.

Sample ALTA Settlement Statement

Alta Combined
See the ALTA website to download a sample settlement sheet.

Alta Cash
See the ALTA website to download a sample settlement sheet.

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