Bulletin: MU000031

Date:
April 14, 1999
To:
All Issuing Offices in Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming
RE:
ALTA Endorsements 3, 3.1, 9, 9.1 and 9.2; Homeowner Policy Title Insurance; ALTA Standard Exceptions

Dear Associates:

The American Land Title Association (ALTA) adopted several new forms and products on October 17, 1998. Those forms include the following:
ALTA ENDORSEMENTS

The ALTA revised the ALTA Endorsement 3 (Zoning) for the Loan and Owner's Policy (generally for unimproved land). The ALTA made only minor changes to this Endorsement.

The ALTA revised the ALTA Endorsement 3.1 (Zoning-completed structure) for the Loan and Owner's Policy. The endorsement was amended to provide coverage as to number of parking spaces.

The ALTA revised the ALTA Endorsement Form 9 (Restrictions, Encroachments, Minerals) for the Loan Policy. The ALTA made only minor changes to this Endorsement.

The ALTA adopted the new ALTA Endorsement Form 9.1 (Restrictions, Encroachments, and Mineral Endorsement) for the Owner's Policy on Unimproved Land and the new ALTA Endorsement 9.2 (Restrictions, Encroachments, and Mineral Endorsement) for the Owner's Policy on Improved Land. These endorsements are similar to nonstandard ?owner's comprehensive endorsements? that have been issued by title companies.

We are in the process of filing these endorsements and filing rates, where necessary, for the new Endorsement Forms 9.1 and 9.2.

Our guidelines for these endorsements are available through the corresponding form, which can be accessed through the references section at the end of this bulletin.

HOMEOWNER'S POLICY OF TITLE INSURANCE

This new form may be issued on single family residences, in accordance with a separate bulletin we are issuing. We are in the process of filing this Policy and a rate, where required. This Policy is similar to our Gold Owner's Policy.

ALTA STANDARD EXCEPTIONS

These Standard Exceptions are available on our Virtual Underwriter and may be seen at http://wwwvuwriter.com. The ALTA Standard Exceptions are similar to and are based in part upon our prior Standard Exceptions. The ALTA Standard Exceptions are supplemented by both general and state specific Stewart Exceptions on Virtual Underwriter.
An example of the format of the new Standard Exceptions is as follows:

ENCX01 ALTA

Facts Disclosed by Survey
Any rights, easements, interests or claims which may exist by reason of or reflected by the following facts shown on the survey dated ____________________ by ________________.
____________________ [Describe Encroachment]

Comment: If the survey or inspection shows conflicts, encroachments or evidence of easements, you should except to those matters. In appropriate cases in accordance with local custom, you may provide affirmative insurance or endorsement coverage as to such matters.

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.