Bulletin: NJ000073

Date:
April 28, 2003
To:
All Issuing Offices in New Jersey
RE:
Sales of Property - Carbon Monoxide Alarms - New Regulations

Dear Associates:

For Your Information Only:

As of April 7, 2003, new state regulations will require sellers of one and two family homes to install carbon monoxide detectors and obtain a Certificate of Smoke Detector and Carbon Monoxide Alarm Compliance before selling their homes.

This is not a title matter and this memorandum is sent for your information only. Accordingly, no additional requirement in Schedule B-I of our commitment is necessary. However, where you are conducting closings or providing settlement services on the sale of residential property, you should be aware that this new requirement will probably appear in contracts of sale in the near future.

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