Bulletin: NV000006

Date:
May 25, 2006
To:
Nevada Title Agents
RE:
Commercial / Industrial division of lands by Record of Survey Amendment to NRS 278.325

Dear Associates:

The Nevada Revised Statutes for the past 13 years have provided for the ability to create and establish new boundary lines in lands zoned for industrial or commercial development, thru the filing of a Record of Survey Map.

However, Senate Bill 394 filed in the recent legislative hearings amended NRS 278.325 by adding the following requirements:

Any conveyance of such a parcel (created by Record of Survey Map) must contain a legal description of the parcel that is independent of the record of survey.

In conversation with the several County assessors' offices, I have been advised of the following interpretations of the amendment:

Washoe, Clark, Storey & Lyon counties: interpret the amendment to REQUIRE that a metes-n-bounds legal description of the property, prepared by licensed land surveyor, be attached to any conveyance document of the property presented after July 1, 2005.

Douglas, Carson City & Elko counties: are currently continuing to allow description of properties by reference to the identifying information on the Record of Survey, provided that the Record of Survey includes all information required for the assessor to identify the boundaries of all the affected lands shown on the Record of Survey.

Nye & Eureka counties: do not currently have any Zoning regulations; therefore, Nye and Eureka counties do not recognize a Record of Survey for creating new boundaries on commercial or industrial lands, instead Nye and Eureka counties require a Parcel Map or Subdivision Map.

Please be aware of this amendment to the statutes, and respond accordingly when issuing evidence of title on commercial/industrial property wherein boundaries have been created by a Record of Survey map.

Please contact your Underwriter to discuss these situations as they present themselves in your transactions.

References: Nevada Revised Statutes section 278.325, revised 2005.

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