Bulletin: VI2023001

Dear Associates:

NEW FORMS

The United States Virgin Islands Division of Banking and Insurance has approved for use in the U.S. Virgin Islands effective August 14, 2023, the American Land Title Association (ALTA) 2021 Commitment, Owner’s and Loan Policies and revised Endorsements.

This filing and approval includes the following set of 2021 ALTA Forms:

• 010-UN ALTA Commitment without Arbitration 7-1-21
• 9210 ALTA Owner’s Policy of Title Insurance without Arbitration 7-1-21
• 9211 ALTA Loan Policy of Title Insurance without Arbitration 7-1-21
• 9019 ALTA 3 Zoning 7-1-21
• 9020 ALTA 3.1 Zoning – Completed Structure 7-1-21
• 9021 ALTA 3.2 Zoning – Land Under Development 7-1-21
• 9024 ALTA 4 Condominium – Assessments Priority 7-1-21
• 9025 ALTA 4.1 Condominium – Current Assessments 7-1-21
• 9026 ALTA 6 Variable Rate Mortgage 7-1-21
• 9027 ALTA 6.2 Variable Rate – Negative Amortization 7-1-21
• 9028 ALTA 7.1 Manufactured Housing – Conversion Loan 7-1-21
• 9029 ALTA 7.2 Manufactured Housing – Conversion Owner’s 7-1-21
• 9030 ALTA 8.1 Environmental Protection Lien 7-1-21
• 9031 ALTA 10 Assignment 7-1-21
• 9032 ALTA 10.1 Assignment and Date Down 7-1-21
• 9033 ALTA 11 Mortgage Modification 7-1-21
• 9034 ALTA 11.1 Mortgage Modification with Subordination 7-1-21
• 9035 ALTA 11.2 Mortgage Modification with Additional Amount of Insurance 7-1-21
• 9037 ALTA 12 Aggregation – Loan Policy 7-1-21
• 9038 ALTA 12.1 Aggregation – State Limits – Loan Policy 7-1-21
• 9039 ALTA 14 Future Advance – Priority w MML 7-1-21
• 9040 ALTA 14 Future Advance – Priority wo MML 7-1-21
• 9041 ALTA 14.1 Future Advance – Knowledge w MML 7-1-21
• 9042 ALTA 14.1 Future Advance – Knowledge wo MML 7-1-21
• 9043 ALTA 14.2 Future Advance – Letter of Credit w MML 7-1-21
• 9044 ALTA 14.2 Future Advance – Letter of Credit wo MML 7-1-21
• 9045 ALTA 14.3 Future Advance – Reverse Mortgage w MML 7-1-21
• 9046 ALTA 14.3 Future Advance – Reverse Mortgage wo MML 7-1-21
• 9047 ALTA 26 Subdivision 7-1-21
• 9048 ALTA 27 Usury 7-1-21
• 9049 ALTA 28.1 Encroachments – Boundaries and Easement 7-1-21
• 9050 ALTA 30 One-to-Four Family Shared Appreciation Mortgage 7-1-21
• 9052 ALTA 32 Construction Loan 7-1-21
• 9053 ALTA 32.1 Construction Loan – Direct Payment 7-1-21
• 9054 ALTA 32.2 Construction Loan – Insured’s Direct Payment 7-1-21
• 9056 STG Post Policy Forgery Endorsement 7-1-21
• 9063 STG Deletion of PACA-PSA Exclusion 7-1-21
• 9064 STG Amendment of Covered Risk 10 on 2021 ALTA Loan Policy 7-1-2021

For a detailed list of differences between the 2021 and 2006 ALTA forms and a summary of the advantages to the customer of the new ALTA forms, click here.

Decertification of the 2006 ALTA Forms is scheduled for December 31, 2022, but the decertification by ALTA will not prohibit use of the 2006 ALTA Forms. While we prefer to use the 2021 ALTA Forms if acceptable and available, we will continue to make the 2006 ALTA Forms available if they are requested by your customers.

Please contact Property Info Customer Care at customercare@stewart.com or your title production software vendor to have the new forms uploaded to your system.

If you have any questions relating to this bulletin, please contact Barry Scholnik.

If you have any questions relating to this or other bulletins, please contact a Stewart Title Guaranty Company underwriter.

For on-line viewing of this and other bulletins, please log onto www.vuwriter.com.