Bulletin: DC000015
Dear Associates:
The new release law for the District of Columbia became effective as of the end of April. For all practical purposes, it gives the District Curative provisions for unreleased, old mortgages and deeds of trust which are quite similar to those in Maryland and adds new ways to do...
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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 A
GOVERNMENT OF THE DISTRICT OF COLUMBIA
Office of the Chief Financial Officer
Office of Tax and Revenue
May 4, 1998
MEMORANDUM
TO:Staff, Public Users and Associates
FROM:Henry M. Terrell
Recorder of Deeds
SUBJECT:Bill 12-458 - Ominbus Regulatory Reform Amendment Act of 1998
A new law was passed to effectuate the release of deeds of trust and mortgages in this jurisdiction.
The Office of the Recorder of Deeds will administer this new legislation which provides new options to releases, deeds of trust, etc. to include, but not limited to, Certification of Satisfaction; Release Affidavit for lost, misplaced or destroyed Promissory Notes and a Release Affidavit to accompany Promissory Notes. Therefore, effective immediately, and consistent with the date of approval determined by Congress, this office will accept documents of releases pursuant to statute. Please be advised that Release packages will be available on or after May 22, 1998.
Further, please be advised that in addition to requirements of the statute, to type or print the address below or above the signature on the document, you are required to do the following:
(1) Attach a separate sheet to each Deed of Trust or Mortgage, Assignment of Deed of Trust or Mortgage, Substitute Trustee, Release of Deed and all other documents included in Bill 12-458.
(2) This separate sheet attached will be recorded without cost.
(3) All (not including the address "over" or "below" signature per statute) names and addresses must appear typed or printed in the lower left corner of the blank sheet. Please be advised that your adherence is essential to facilitate the administration and implementation of this statute. Failure to comply may hamper the efficiency and timeliness of the recording process. This office will immediately accept documents filed under the new statute subject to our pre-audit procedures.