Bulletin: NJ000036
Dear Associates:
The recent change in the Form 5-10 survey endorsement provides an opportunity for a review of the company's guidelines for issuing what is commonly referred to as "survey coverage". Like most colloquial expressions in our industry, the phrase "survey coverage" is somewhat o...
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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.
Exhibit 1
Survey Review Checklist:
The following matters should be considered when reviewing a survey, and where appropriate, an exception taken either in the survey endorsement or added to Schedule B of the policy. As to some matters, it may be necessary to require that the survey be revised to correct the error.
Compare record title description with survey for discrepancies
Compare survey with tax map for discrepancies
Utility lines outside recorded easements
Utility lines for which there are no recorded easements
Walls, fences or plantings mislocated along property lines
Encroachments from adjoining property
Encroachments from insured property onto adjoining property
Encroachments onto easements
Encroachments (violating) over buildings and setback lines
Driveways, sidewalks, parking areas, encroaching from adjoining property
Driveways, sidewalks, parking areas, encroaching onto adjoining property
Driveways, sidewalks, parking areas, encroaching onto easements
Cemeteries and burial grounds
Park and recreational facilities
Billboards (They give notice of unrecorded leases)
Springs, streams, creeks, rivers, ponds, lakes or drainage ditches
Variances in the area or dimensions of the land
Violations of restrictive covenants
Lack of access or restricted access to a state highway
Slope and drainage rights along state highways and railroads
Survey is more than six months old, or recent improvements have been made on the land since the date of the survey
Survey shows premises to be insured and other lands not be insured
Survey does not comply with the minimum standards for surveys demanded by Stewart Title Guaranty Company
Railroad rights-of-way, switch tracks, spur tracks or transmission lines, but not easements of record are found for the same
Gaps or overlaps are caused by the description of the property
Legal names and widths of streets, roads and avenues are not shown
Lack of legal access to and from the property
Characters, locations and dimensions of all. The buildings or structures located upon the property are not shown
Adjoining property descriptions indicate potential conflicts
Survey does not show any of the following : surveyor's signature, seal, date, or certification
No North arrow
Not certified to Stewart Title Guaranty Company and other parties in interest