For Immediate Release
ALTA Receives 2024 Power of Associations Gold Award for Combating NTRAPS
WASHINGTON, D.C., Aug. 1, 2024 – The American Land Title Association (ALTA), the national trade association of the land title insurance industry, has been recognized as a Power of Associations Gold Award winner by the American Society of Association Executives (ASAE) for its successful “Combating NTRAPS” initiative.
The award was given for the work ALTA and AARP, a catalytic collaborator on this effort, put into raising awareness about and advocating against the predatory practice of filing unfair real estate fee agreements in property records, known as Non-Title Recorded Agreements for Personal Services (NTRAPS). NTRAPS is a little-known but growing type of real estate service agreement that preys upon homeowners, offering small, upfront cash payments in exchange for decades-long contracts—sometimes up to 40 years—for exclusive rights to sell the property, even after the homeowner has passed away.
Since 2023, 30 states have passed legislation to protect homeowners: Alabama, Arizona, California, Colorado, Connecticut, Florida, Georgia, Hawaii, Idaho, Illinois, Iowa, Indiana, Kentucky, Louisiana, Maine, Maryland, Minnesota, Nebraska, Nevada, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, South Carolina, Tennessee, Utah, Virginia, Washington and West Virginia. In Illinois, the bill is awaiting the governor’s signature.
“ALTA is pleased to be honored with a Power of Associations Gold Award from ASAE,” said ALTA CEO Diane Tomb. “Protecting consumers and safeguarding property rights is at the core of ALTA’s mission. I am proud of the work ALTA—led by ALTA Vice President of Government Affairs Elizabeth Blosser and State Government Affairs Manager Caroline Cone—and AARP have accomplished and the results we have achieved.”
“Congratulations to ALTA for exemplifying the impact associations have on the industries and professions they represent, and on society at large,” said ASAE President and CEO Michelle Mason, FASAE, CAE. “It’s always so incredibly satisfying to see associations going above and beyond their everyday mission to change the world. We’re very proud to spotlight this award-winning initiative.”
For more on ALTA’s NTRAPS-related advocacy efforts, click here.
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About ALTA
The American Land Title Association, founded in 1907, is a national trade association representing more than 6,000 title insurance companies, title and settlement agents, independent abstracters, title searchers and real estate attorneys.
Contact: Megan Hernandez
Office: 202-261-0315
Email: [email protected]