- August 30, 1999
- All Issuing Offices in Missouri
- Special Exceptions
Section 381.071.1(2) Revised Statutes of Missouri reads:
"No title insurance policy shall be written unless and until the title
insurer, title agent or agency has:
(2) caused to be made a determination of insurability of title in accordance with sound
Stewart Title Guaranty Company's underwriting guidelines require that any added exception, customized to a particular transaction needs to be adequately documented and written without ambiguity.
Please forward this memo to your title officers and ask them to ensure that special exceptions are drafted clearly and succinctly, and that proper documentation is retained in the closing file. Your cooperation is appreciated.
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.