See Wrap-Around Contract of Sale, Mortgage or Trust Deed. ALTA Title Insurance Policy - A type of title insurance issued to lenders that gives greater coverage than a standard policy by insuring against additional item, such as unrecorded physical easements, unrecorded mechanic's liens, water and mineral rights, facts a physical survey would show, and rights of persons in possession. Formerly called ATA title insurance policy. ALTA is an abbreviation for American Land Title Association, a trade association of title insurance companies.