Bulletin: FL000050

Date:
September 08, 1994
To:
All Florida Offices and Agents
RE:
Foreclosures Involving $15,000 or Less

Dear Associates:

Stewart Title Guaranty Company will now insure a foreclosure involving $15,000 or less whether it is brought in the County or Circuit Court.

On September 1, 1994, in a much awaited decision, the Florida Supreme Court held that the County and Circuit Courts have concurrent jurisdiction in foreclosure cases involving $15,000 or less, Nachon Enterprises, Inc. vs. Alexdex Corporation.

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:
12.32 Mortgage Foreclosures
Exceptions Manual:
FL Mortgages
Forms:
None