Bulletin: NJ000084

Date:
April 13, 2004
To:
All Issuing Offices in New Jersey
RE:
New Tax Parcel Endorsements
 Dear Associates:

Attached are copies of the new Form NJ 5-79 Single Tax Parcel (ALTA 18) and Form NJ 5-80 Multiple Tax Parcels (ALTA 18.1) which are approved for use beginning March 8, 2004.  The forms should be issued under the following circumstances:

Form 5-79 Single Tax Parcel (ALTA 18) should be used to insure that the property is a single tax lot, and is not taxed as a part of a larger lot.

Form 5-80 Multiple Tax Parcels (ALTA 18.1) should be used to insure that the various parcels to be covered by the policy are separate and specific tax lots. It also insures that any easements set forth in Schedule A will not be cut off by the non-payment of real estate taxes imposed on the servient estate.  You should contact the State Office for approval before issuing this endorsement.

The charge for each of these endorsements is $50 per file, whether both the lender and applicant request the form or only one does.

Attached are the following pages to be substituted into your Rate and Form Manual:

Add Pages 246 through 247

Please call the State office if you have any questions, and note revised Rate and Form Manuals will be issued shortly.

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:
MU000049 New ALTA Forms
Underwriting Manual:
None
Exceptions Manual:
None
Forms:
ALTA Endorsement 18 (Single Tax Parcel)
 
ALTA Endorsement 18.1 (Multiple Tax Parcel)