Bulletin: NE2016005

Date:
August 04, 2016
To:
All Nebraska Issuing Offices
RE:
LEGISLATIVE UPDATE - 2016 Legislative Summary

Dear Associates: 

As of late in the week of July 18, all legislative bills which passed out of the Unicameral and were signed into law by the Governor have become effective. Some of these bills, which will be of varying degrees of interest to the title industry, are briefly described below.

Legislative Bill 465 permits registration of notary publics as “electronic notary publics” beginning in 2017, subject to regulations to be promulgated by the Secretary of State. In a number of locations, technology will have to catch up with the law, but the fact remains that the legal authorization now exists.

Legislative Bill 725 exempts all easements, except conservation easements, from a prior State requirement that all easements to be recorded be accompanied by the Form 521 – Real Estate Transfer Statement.

Legislative Bill 758 effectively prohibits a limited liability company from operating as an insurer.

As a final note, agents are reminded that Legislative Bill 253 of the 2015 session of the Unicameral provides that “A purchase agreement or contract for sale of homestead property signed by both spouses does not require acknowledgement to be enforceable.” This is yet another revision to Nebraska’s homestead statute (Sec. 40-104, Neb. Rev. Stat.) that originally required that both spouses execute any conveyance or encumbrance of homestead unless both spouses execute and acknowledge the instrument. CAVEAT: This and earlier changes do not affect the statutory requirement that all instruments presented for recording in the real estate records must be properly acknowledged.

If you have any questions relating to this or other bulletins, please contact a Stewart Title Guaranty Company underwriter.

For on-line viewing of this and other bulletins, please log onto www.vuwriter.com.

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:
1.16 Acknowledgments
 
5.00 Easements And Easement Insurance
Exceptions Manual:
Acknowledgments
 
Easements
Forms:
None