Bulletin: NY000109

Date:
January 10, 1996
To:
New York State Counsel, Managers and Agents
RE:
Actions affecting title--forms for examiners

Dear Associates:

In the reference section at the end of this bulletin you will find the Company's recommended forms for examiners to use for taking off actions affecting title.

The forms are designed for the purpose of providing relevant information to the reader in an easily reviewed format. Changes in the Civil Practice Law and Rules (CPLR) in recent years, particularly those regarding commencement of civil actions and proceedings by filing the initiatory papers and pleadings, have made it necessary for readers to consider many more factors in connection with passing title through an action or proceeding.

The main focus of the forms is the mortgage foreclosure, although the papers are designed in a modular way and are useful for abstracting other civil actions and special proceedings as well.

Unless your examiner is already using takeoff sheets which provide a similar depth of detail to the forms, which can be found in the reference section at the end of this bulletin, the use of these forms is strongly recommended.

The five sheets are as follows:

1. Sheet 1 - Parties
This sheet is used for setting out the information regarding service and filing. Readers need the material in order to determine whether the action was "deemed dismissed" by operation of CPLR §306-b, as against a particular defendant.

2. Sheets 2 and 3 (Foreclosure)
These two pages go through the items which we want to find in a mortgage foreclosure.

3. Sheet 4 (Other Action)


4. Sheet 5 (Other Proceeding)

Taking off a mortgage foreclosure requires sheets 1, 2 and 3. If another type of action is involved, sheet 1 and 4 are used. If the lawsuit takes the form of a special proceeding, use sheets 1 and 5. The forms are merely a summary - photocopies of relevant affidavits, pleadings and papers are still appropriate to obtain and annex to the takeoff.

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:
10.12 Judicial Proceedings
 
12.12 Mechanic's Liens
 
12.32 Mortgage Foreclosures
Exceptions Manual:
None
Forms:
None