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: NY000473
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Bulletin: NY000473
Recently, Stewart Title Insurance Company (“Stewart”) has learned that New York City has begun to enforce ECB liens (Environmental Control Board Lien) against both the named party, as well as the premises listed in the notice of violation.
An ECB lien is a judgment against the named defendant and encumbers all the property owned by the defendant in the county where it is filed. Accordingly, all ECB liens must be raised and disposed of whether affecting the property being insured or affecting other property if the owner is the named defendant.
Underwriting guidelines require all Stewart policy issuing offices to search ECB’s against the property, as well as the parties.
For online viewing of this and other bulletins, log onto: www.stewartnewyork.com.
References
- Bulletins Replaced:
- None
- Related Bulletins:
- Underwriting Manual:
- None
- Exceptions Manual:
- None
- Forms:
- None