Bulletin: NH000004

Date:
March 01, 1993
To:
All Issuing Agents
RE:
Tax Titles

Dear Associates:

Since the decision in White V. Wolfeboro, questions have arisen as to the insurability of tax titles. The following is our company position regarding the underwriting of titles involving tax deeds in light of the White decision.

Tax

Sales conducted prior to May 16, 1961, the date the tax sale status was amended to include Sec. 80.24-a, will be insured provided tax notices and other title matters are in order.

Tax deeds on record less than 10 years, as in the past, will not be insured unless a deed is obtained from the property owner who lost at tax sale.

Tax sales between May 16, 1961 and 1978 will be underwritten on a case by case basis and the Stewart office must be contacted for approval before issuance of any title policies containing tax deeds during that period.

The following information will be needed in order to make the risk assessment:

  • Date of sale

  • Adequacy of the tax notice

  • Assessed value at time of sale

  • Amount of tax

  • Lenders or owners coverage requested

  • Amount of title insurance coverage requested

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.

References

Bulletins Replaced:
None
Related Bulletins:
None
Underwriting Manual:
19.00 Tax Titles
Exceptions Manual:
NH Taxes, Real Property
Forms:
None