STG Creditors' Rights Checklist
Forms by State or Territory
Organization Forms
International Forms
STG Creditors' Rights Checklist
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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. |
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Yes ____ |
No ____ |
2. The Seller and Buyer have common owners or investors. |
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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). |
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Yes ____ |
No ____ |
4. The consideration to the Seller is wholly or partly other than cash. |
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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. |
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Yes ____ |
No ____ |
6. It is understood or rumored that a bankruptcy may be filed by or against the Seller after closing. |
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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). |
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Yes ____ |
No ____ |
2. More than 5% of loan proceeds will be distributed to the parent owner or investors (shareholders, members, partners) in the mortgagor. |
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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. |
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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. |
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Yes ____ |
No ____ |
5. The aggregate of items 2, 3 and 4 will exceed 5% of the loan proceeds. |
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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. |
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Yes ____ |
No ____ |
7. It is understood or rumored that a bankruptcy may be filed by or against the mortgagor after closing. |
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Yes ____ |
No ____ |
8. The loan secured by the Insured Mortgage will exceed the value of the Land (or Land as to be improved). |
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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: ________________________________
Copyright 1970-2022 Stewart Title Guaranty Company. All rights reserved. The use of this form (or any derivative thereof) is restricted to Stewart Title Guaranty Company, it’s issuing agents, and affiliates in good standing as of the date of use. All other uses are prohibited.
No guidelines are available for this form at this time.