Periodically we update bulletins based upon our underwriting and claims experience. In addition to the required submission of an over limits request for NEW YORK policies exceeding the contractual limitations set forth in the STEWART TITLE INSURANCE COMPANY underwriting agreements, please submit an over limits request for the following subject matters considered to be special or extra hazardous risks. This list of subject matter areas is not an exhaustive list so your professional judgment and competency is always a key factor in determining those risks assumed by Stewart Title Insurance Company. All policy issuing offices are encouraged to contact the company as necessary.
· Short sales as covered in Bulletin 465.
· Self Dealing as covered in Bulletin 434.
· Foreclosure Issues covered in Bulletin 459 and Bulletin 465, including sales out of lenders who took title by Referee’s deed.
· Insuring out of tax foreclosures, both judicial and non-judicial.
· Affirmatively insuring against boundary issues or out of possession issues.
· Insuring the Automatic subordinations (other than leases, if the lease subordination includes satisfactory non-disturbance language) or subordination of a mortgage to a construction loan mortgage.
· Insuring tidelands, submerged lands or access rights to water.
· Insuring without exception to an existing lien or interest of a co-owner based on a Bankruptcy.
· Insuring pursuant to a Court Order.
· Insuring any title where there is a Court Order in the chain of title, regardless of whether there is a Lis Pendens filed in the action.
· Insuring any title where a satisfaction has been recorded without a contemporaneous refinance or sale (sometimes referred to as a “wild” satisfaction), Bulletin 36 and Bulletin 396.
· Insuring without exception based on a Bankruptcy Court Order avoiding a lien or conveyance.
· Insuring Native American lands.
· Insuring a mineral estate or water rights separate and apart from the surface interest.
· Insuring oil and/or gas leases, Bulletin 472.
· Insuring title to property currently or once owned by a railroad entity.
· Insuring Synthetic Leases.
· Insuring around outstanding enforceable unpaid recorded liens including Mechanics’ Liens.
· Fractional interests in notes secured by mortgages and owned by 10 or more individuals.
· Any endorsement in New York requiring Underwriter approval as provided in the TIRSA rate manual in effect on the date of closing.
· Insuring title when another New York licensed underwriter has declined to insure; the issuing office must notify Stewart of the refusal to insure.
· Issuing a policy on any property or name listed in a Special Alert or Bulletins issued by Stewart Title Insurance Company, Stewart Title Guaranty Company or other Title Insurance Company.
· Insuring title when there is any litigation affecting the title to the premises.
· Insuring title where the property or the transaction specifics are the subject matter of a Geographic Targeting Order.
· Insuring contrary to prohibited/suggested underwriting practices as set forth in any Stewart Title Insurance Company Bulletin.
In the event you have any questions, please the Stewart Title Insurance Company- New York Legal Department at (212) 922-0050.