Bulletin: NY000134

Date:
January 29, 1997
To:
All New York State Counsel, Managers and Agents
RE:
Final Rules for Implementation of the Recent Torrens Legislation Revision of Paragraph 6

Dear Associates:

On January 3, 1997, this office distributed Legal Bulletin NY000133 relating to final rules established by the New York City Register to implement the transition from Torrens registration to the more traditional recording system in place in the City of New York.

After the issuance of the Bulletin, one revision, affecting Paragraph 6 of the Rules, was made by the City Register. That paragraph had previously required that a voluntary instrument submitted for recording contain a sentence that the premises conveyed was intended to be the same premises as registered under Certificate of Title #__________________.

Paragraph 6 has been revised to provide that every voluntary instrument submitted to the Registrar's Office must contain the following wording: "This instrument affects the real property formerly registered under Certificate of Title No. _______________".

A copy of the Final Rules, with this revision included, is available through the New York City office.

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:
NY000133 Rules for Implementation of the Recent Torrens Legislation with respect to recordings within the City of New York
Underwriting Manual:
None
Exceptions Manual:
None
Forms:
None