Which of the following is NOT a Covered Risk under the ALTA 2006 form policy?

The correct answer underscores that certain liens are not covered risks under the ALTA 2006 form policy. Specifically, the inclusion of 'any lien on the Title for real estate taxes or assessments imposed by governmental authority since the Date of Policy' illustrates a critical aspect of title insurance.

In real estate transactions, liens for real estate taxes or assessments become a potential risk for a property buyer. However, the ALTA 2006 policy specifically includes coverage for these risks only if they were assessed prior to the issuance of the policy. Therefore, if a new lien arises after the policy's effective date, it is not covered. This exclusion is significant because it protects the title insurer from claims related to new obligations that the buyer had no knowledge of and that were not disclosed at the time of the policy issuance.

The other options present risks that can result in covered events, such as access issues or prior tax obligations that remain unpaid, thereby highlighting the type of coverage provided by the policy compared to non-covered risks. Understanding these distinctions helps clarify what buyers can expect from their title insurance protection under the ALTA 2006 form policy.