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: NY000575
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Bulletin: NY000575
This bulletin is to advise that Local Law 34-2015, attached herein, was enacted which increases the Real Property Tax Service Agency verification fee to $200.00 for each lot verified. Additionally, there will continue to be no maximum fee.
All documents presented or re-presented for verification to the Real Property Tax Service Agency on or after December 18, 2015 must be assessed the new fee of $200.00 per lot.
Please also note that the Real Property Verification Stamp is only valid for 30 days. If something was rejected from the County Clerk and the verification stamp is past the 30 days, it must be re-verified. As of December 18, 2015 the new fee will also apply even if submitted prior to fee increase, with no exceptions.
Please contact underwriting counsel at 212-922-0050 in the event you have any questions.
References
- Bulletins Replaced:
- None
- Related Bulletins:
- None
- Underwriting Manual:
- None
- Exceptions Manual:
- None
- Forms:
- None