- December 15, 1994
- All Georgia Agents of Stewart Title
- Change in Requirements for Issue of the 8.1 Endorsement
Except as otherwise provided in subsections (b) and (c) of Section 12-13-11. O.C.G.A., Section 12-13-12 provides that in the event of any discharge or threatened discharge of a "regulated substance" (as defined in that section) from an underground tank, the state may recover from any owner, operator or other responsible person in a civil action all costs incurred by the state or moneys from the federal Leaking Underground Storage Tank Fund, for cleanup of any such release and for other costs of the State's response.
Section 12-13-12 provides that the state shall have a lien on the real property on which the underground storage tank is located, even if the tank is owned by a person other than the owner or operator, provided the owner or operator is "in privy with the real property owner".
The lien is perfected by filing a certified copy of any judgments obtained against the owner or operator with the Clerk of Superior Court for entry on the General Execution Docket in the county in which any real property of the owner is located or where the real property on which the leaking underground storage tank was operated is located.
This statute necessitates a change in the requirements for the issuance of our ALTA 8.1 Endorsement in Georgia.
You are now required to insert in paragraph "(b)" of the 8.1 Endorsement, the following:
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.
- Bulletins Replaced:
- Related Bulletins:
- MU000010 Environmental Protection Lien Endorsement - ALTA Form 8.1 - Environmental Matters
- Underwriting Manual:
- 5.08 Environmental Laws
- Exceptions Manual:
- GA Environmental Matters