Bulletin: NY000049

Date:
July 22, 1994
To:
New York State Counsel, Managers, Underwriters & Agents, Please Alert Your Examiners and Readers
RE:
Underwriting Alert! 48 Maple Street, Staten Island, New York Block 1074 Lot 81 - No Insurance To Issue

Dear Associates:

It has come to our attention that the deed in Reel 4951 page 319, which purports to convey the captioned premises from Frank Surina and Mary Surina, his wife, to Sondra French, is a forgery, and that both Frank Surina (d.o.d. June 17, 1946) and Mary Surina (d.o.d. March 8, 1964), the last owners of record, were in fact long deceased at the time the forged deed was made. Since these facts are not readily available from the record, you are advised to be aware of this matter. No agent of this Company is authorized to issue a policy of title insurance on the captioned premises, in the absence of completion of an action to quiet title.

The forged deed bears an unreadable notary stamp, a "record and return" to Alan D. Lasher, Esq. and a purported "South Shore Abstract" title number. Please advise your examiners to turn out and note complete copies of any deed in any chain of title which has similar characteristics, in particular a smudged or unreadable notary stamp and a title number from an abstract company which was out of business at the time the deed was made or recorded.

As a general underwriting rule, you will note that the Surinas had taken title in 1943 and the forged conveyance out was in 1993. Where there is an unusually long time between (a) the last deed of record and the closing deed, or (b) between deeds in the chain of title, the following exceptions are proper, and should be raised by the reader:

  1. Proof is required to show that the person executing the deed or mortgage at the closing is the same person as the grantee in deed recorded in Liber (Reel, Record Liber)_____ (C)p _____, the certified owner herein.

  2. Proof is required that _______, the grantor in deed in L. (R.L., R.)_____, (C)p _______, is the same person as _______, the grantee in deed in L. (R.L., R.)_____, (C)p _______.

Our thanks to Brian Reardon, President of General Abstract Corp. in Staten Island, for bringing the circumstances of the captioned matter to our attention.

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:
6.36 Forgeries
Exceptions Manual:
None
Forms:
None