- January 23, 2014
- All Pennsylvania Issuing Offices
- UNDERWRITING - ACT 24 of 2013 - Defective Acknowledgments
By passage of Act 24 of 2013 (Senate Bill 419-2013), defective acknowledgments on documents which are recorded through December 31, 2012, are validated as of January 1, 2014. The Act does not apply to lawsuits related to defective acknowledgments which are currently pending and undetermined. The last curative amendment validated defective acknowledgments through December 31, 2004.
The types of defects the Act is intended to cure are typographical errors, missing dates, acknowledgments which predate the date of the recorded document and the capacity of the parties signing the instrument.
The Act does not validate documents that are missing acknowledgments or where the acknowledgment is blank.
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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.