Effective October 1, 2024, the Title Insurance Rate Service Association, after approval of the NYS Department of Financial Services, will replace the currently used ALTA 2006 title policy form with a new ALTA 2021 policy form.  The new policy form has already been in use in many other states, and major lenders are already familiar with them. ALL title insurance providers in New York State will be required to use the new policy form.

Part “O” of the recently passed 2024 New York State Budget contains some items that are of interest to the title

insurance community. Entitled “The Heirs Property Protection and Deed Theft Prevention Act of 2024”, these

items are intended to address the increasingly publicized problems of theft of real property through either

forgery or fraud, the protection of heirs to real property from partition actions by non-family members, and also

would now permit “transfer on death” deeds in NYS.