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: NY000340
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Bulletin: NY000340
On November 15, 2007 The New York Court of Appeals handed down the decision of O’Mara v Town of Wappinger (copy attached). The Second Circuit Court of Appeals had asked our highest state court to answer the question "is an open space restriction imposed by a subdivision plat under New York Town Law Section 276 enforceable against a subsequent purchaser, and if so under what circumstances?
The Court of Appeals answered the question in the affirmative by finding that "…an open space restriction placed on a final plat pursuant to Town Law section 276 when filed in the Office of the County Clerk under Real Property Law Section 334 is enforceable against a subsequent purchaser." It rejected the subsequent purchaser’s RPL Section 291 arguments. The decision highlights the importance of scrutinizing filed maps for notes pertaining to restrictions and other matters affecting or potentially affecting title and raising the matters as exceptions in your reports.
The decision of O'Mara v Town of Wappingercan be viewed here.
References
- Bulletins Replaced:
- None
- Related Bulletins:
- None
- Underwriting Manual:
- None
- Exceptions Manual:
- None
- Forms:
- None