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: NY000075
Bulletins by State or Territory
Bulletins by Country
Bulletin: NY000075
Dear Associates:
This office has received a letter from Thomas A. Maria, a Court appointed Receiver for the Treetop Sewage Treatment Plant located in Staten Island, New York. He is attempting to place all title insurers on notice of a requirement that homeowners in an area of Staten Island bounded by Woodrow Road, Richmond Parkway, Marcy Avenue and Maguire Avenue pay annual maintenance charges pursuant to the terms of certain Declaration of Covenants which are recorded (presumably) against their properties.
The subject of annual maintenance charges contained in Declaration of Restrictions was addressed very recently in a memo from Paul Prinzivalli. Please see bulletin NY000071 Homeowner Association Assessments.
Should your office be handling a transaction involving a property shown on the attached tax map, and affected by a Declaration of Restrictions requiring the payment of an annual fee or maintenance charge, an appropriate exception as called for in Mr. Prinzivalli's memo should be raised. Said exception can be disposed of in accordance with Mr. Prinzivalli's memo.
Should you have any further questions regarding this matter, please do not hesitate to contact Company Counsel.
References
- Bulletins Replaced:
- None
- Related Bulletins:
- Underwriting Manual:
- Exceptions Manual:
- None
- Forms:
- None