Bulletin: NY000090

Date:
June 20, 1995
To:
All New York Counsel, Managers and Agents
RE:
Increase in Recording Fees in the City of New York (with the exception of Richmond County)

Dear Associates:

Joy A. Bobrow, the New York City Register, has issued a letter in which she advises that effective on and after July 1, 1995, there will be an increase in the basic instrument recording fee in the City of New York (except for Richmond County) from $10.00 to $12.00 and in the per page fee from the current $2.00 per page to $5.00 per page.

The revenues raised by the recording fee increase are to be used to establish an electronic document imaging system for the retrieval of real and personal property records, for the conversion of existing paper indices to computer format and for converting microfilm images to electronic images.

Please advise all closers and recording clerks of the increase in these recording charges. Because of the time lag between the date of closing and the actual delivery of instruments to the recording office, it is suggested that closers collect at the higher recording rate on all closings taking place on or after June 26, 1995.

If you have any questions, please contact Company Counsel.

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:
None
Exceptions Manual:
None
Forms:
None