Bulletin: NY000266

Date:
September 27, 2005
To:
All Issuing Offices in New York
RE:
NYC Register Requires Tax Lot Apportionment Prior to Recording

It has come to our attention that the New York City Register has taken the position that she will not allow a conveyance to be recorded which affects only a portion of a tax lot.

As a result, effective immediately, all reports issued concerning properties in the counties of Kings, Queens, the Bronx and New York , must contain the following note:

Pursuant to the recording requirements of the New York City Register, Company will not insure any conveyance which affects only a portion of a tax lot without compliance with the requirements for subdivision/apportionment of a tax lot and prior approval of the Department of Buildings and Department of Finance.

When (or if) this position changes or is rescinded, further notification will be sent.

If you have any questions, please call company counsel.

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:
None
Exceptions Manual:
None
Forms:
None