Property Address: __________________________________________________________ Please provide a brief description of the transaction and the property: _____________________________ _______________________________________________________________________________________________
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STEWART TITLE GUARANTY COMPANY |
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Yes ____ |
No ____ |
1. The Seller and Buyer are related or affiliated. |
Yes ____ |
No ____ |
2. The Seller and Buyer have common owners or investors. |
Yes ____ |
No ____ |
3. The sales price is substantially (more than 5%) below fair market value (based on assessed value, appraisals, or general understanding of the market). |
Yes ____ |
No ____ |
4. The consideration to the Seller is wholly or partly other than cash. |
Yes ____ |
No ____ |
5. The sales price is wholly or partly cancellation of, release of, or covenant not to sue on debt owed to the Buyer or affiliate. |
Yes ____ |
No ____ |
6. It is understood or rumored that a bankruptcy may be filed by or against the Seller after closing. |
Yes ____ |
No ____ |
7. The Amount of Insurance on the Owner's Policy will be different than the sales price (or sales price plus contemplated improvements). |
Sign Name: _______________________________ Date: ________________
Print Name: _______________________________
Print Title: ________________________________
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STEWART TITLE GUARANTY COMPANY |
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Yes ____ |
No ____ |
1. The loan of the Insured Mortgage is for a purpose other than: (a) purchase money for title to the Land, and no other land; (b) construction of improvements on the Land, and no other land; (c) home equity; (d) reverse mortgage; (e) ongoing operations of the mortgagor; or (f) refinance of such existing secured debt on all of the Land, and no other land, for one or more of the purposes described in (a) - (e). |
Yes ____ |
No ____ |
2. More than 5% of loan proceeds will be distributed to the parent owner or investors (shareholders, members, partners) in the mortgagor. |
Yes ____ |
No ____ |
3. More than 5% of loan proceeds will be used to buy out the interest of investors (shareholders, members, partners) of the mortgagor. |
Yes ____ |
No ____ |
4. More than 5% of the loan will refinance or secure debt of a parent entity of the mortgagor or another person/entity. |
Yes ____ |
No ____ |
5. The aggregate of items 2, 3 and 4 will exceed 5% of the loan proceeds. |
Yes ____ |
No ____ |
6. The loan is cross-collateralized with land owned by another mortgagor and/or cross-defaulted with any mortgage given by another mortgagor. |
Yes ____ |
No ____ |
7. It is understood or rumored that a bankruptcy may be filed by or against the mortgagor after closing. |
Yes ____ |
No ____ |
8. The loan secured by the Insured Mortgage will exceed the value of the Land (or Land as to be improved). |
Yes ____ |
No ____ |
9. The Title is vested or will vest in the mortgagor by a conveyance that was not or is not a bona fide sale from an unrelated party. |
Sign Name: _______________________________ Date: ________________
Print Name: _______________________________
Print Title: ________________________________
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