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: NY000251
Bulletins by State or Territory
Bulletins by Country
Bulletin: NY000251
It has finally been determined that the legislation which increases the mortgage tax in the counties comprising the Metropolitan Commuter Transportation District will become effective on June 1, 2005. (Please refer to Bulletin No. NY000247 (AMENDED) dated March 31, 2005 for information on the amount of the increase and the counties affected).
For mortgages that may have been recently recorded where the increased tax was paid in anticipation of the increase, mortgagors may apply for a refund by filing Form MT-15.1 (Mortgage Recording Tax Claim for Refund) which form is available at the NYS Dept. of Taxation and Finance website at the following address:
http://www.tax.state.ny.us/pdf/2000/mortgage/mt15_1_1000.pdf
To the extent that we receive further information or guidance from appropriate authorities regarding the imposition of the increase, it will be forwarded accordingly.
References
- Bulletins Replaced:
- None
- Related Bulletins:
- Underwriting Manual:
- None
- Exceptions Manual:
- None
- Forms:
- None