- April 13, 2004
- All Issuing Offices in New Jersey
- New Contiguity Endorsements
Attached are copies of the new Form NJ 5-81 Contiguity - Multiple Parcels (ALTA 19) and Form NJ 5-82 Contiguity - Single Parcel (ALTA 19.1) which are approved for use beginning March 8, 2004. The forms should be issued under the following circumstances:
Form NJ 5-81 Multiple Parcels (ALTA 19) should be used to insure that two or more parcels of land, both or all of which are covered by the policy, are contiguous and have no gaps, strips or gores separating them. An example of this usage is two lots which abut each other, but are separate tax lots or have separate metes and bounds descriptions.
Form NJ 5-82 Single Parcel (ALTA 19.1) should be used to insure that the insured parcel is contiguous to another parcel and that there are no gaps, strips or gores separating them. An example of this usage would be the case of a lot which is benefited by a driveway easement over another lot. The applicant or lender would want to insure that the driveway abutted the benefited property.
The charge for each of these endorsements is $50 per file, whether both the lender and applicant request the form or only one does.
Attached are the following pages to be substituted into your Rate and Form Manual:
Add Pages 248 through 249
Please call the State office if you have any questions, and note that revised Rate and Form Manuals will be issued shortly.
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.