THIS BULLETIN IS FURNISHED TO INFORM YOU OF CURRENT DEVELOPMENTS. AS A REMINDER, YOU ARE CHARGED WITH KNOWLEDGE OF THE CONTENT ON VIRTUAL UNDERWRITER AS IT EXISTS FROM TIME TO TIME AS IT APPLIES TO YOU, AS WELL AS ANY OTHER INSTRUCTIONS. OUR UNDERWRITING AGREEMENTS DO NOT AUTHORIZE OUR ISSUING AGENTS TO ENGAGE IN SETTLEMENTS OR CLOSINGS ON BEHALF OF STEWART TITLE GUARANTY COMPANY. THIS BULLETIN IS NOT INTENDED TO DIRECT YOUR ESCROW OR SETTLEMENT PRACTICES OR TO CHANGE PROVISIONS OF APPLICABLE UNDERWRITING AGREEMENTS. CONFIDENTIAL, PROPRIETARY, OR NONPUBLIC PERSONAL INFORMATION SHOULD NEVER BE SHARED OR DISSEMINATED EXCEPT AS ALLOWED BY LAW. IF APPLICABLE STATE LAW OR REGULATION IMPOSES ADDITIONAL REQUIREMENTS, YOU SHOULD CONTINUE TO COMPLY WITH THOSE REQUIREMENTS.
Bulletin: NY000004
Bulletins by State or Territory
Bulletins by Country
Bulletin: NY000004
Dear Associates:
Please be advised that it is improper to issue a title assurance intentionally
disregarding an outstanding lien other than one having a completely ascertainable
amount wherein actual payment has been made. It is inappropriate to fail to show
an outstanding lien, even with an ascertainable amount and indemnity deposits
received. Failure to properly advise of an existing lien and/or existing interest
in real property may expose us not only to a claim but violation of statute.
In the event that you have some question as to the appropriate procedures to follow with regard to the appropriateness of revealing various liens affecting title to real estate, please contact us at your earliest convenience. Your cooperation and prompt attention in this regard will be most appreciated.
References
- Bulletins Replaced:
- None
- Related Bulletins:
- None
- Underwriting Manual:
- Exceptions Manual:
- None
- Forms:
- None