Bulletin: AK000017

Date:
November 15, 1993
To:
All Alaska Agents
RE:
State of Alaska Liens for Oil or Hazardous Substance Spills

Dear Associates:

These liens when recorded contain specific legal descriptions of real property subject to the lien; however, the document also provides that it is a lien "against all property, real or personal" belonging to the debtor, "including, but not limited to" the specifically described property. This is a dangerously misleading document.

Therefore, please be sure these liens are posted to your General Index against the names of the debtor(s), as well as to the real property described in the lien, to ensure that we show these liens as exceptions to the title of any property of the debtor we report on, not just that specifically described in the lien.

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:
5.08 Environmental Laws
Exceptions Manual:
AK Environmental Matters
Forms:
None