Bulletin: NM2015001

Date:
April 28, 2015
To:
All New Mexico Issuing Offices
RE:
UNDERWRITING - Recording of Duplicate Copies - Update

Dear Associates:

During the 2015 New Mexico Legislative Session, the New Mexico Land Title Association (“NMLTA”) promoted House Bill 324, which sought to amend the New Mexico recording statute to add requirements when recording a duplicate with a County Clerk’s office so as to create a better public record when a duplicate was recorded.  

In 2013, Section 14-8-4 NMSA was amended to allow recording of duplicates of otherwise recordable documents. Previously, only originals could be recorded. The statute does not impose any different requirements when recording a duplicate versus an original.

HB 324 would have amended NMSA § 14-8-4 to add a new Subsection D to the statute requiring that the duplicate be accompanied by an acknowledged document providing the name and contact information of the party presenting the document for filing, specifying the reason for filing the copy, and stating that it is a true copy of the original. 

HB 324 passed the House and the Senate unanimously but was pocket-vetoed by Governor Susana Martinez without explanation. As such, there will be no change to the current law.

Because the law currently does not require the identification of a recorded document as a duplicate, Stewart Title Guaranty Company requests that you undertake either of the following procedures whenever you present a duplicate for recording with a County Clerk:

1. Attach to the duplicate document an affidavit that provides the name, phone number and mailing address of the person filing and recording the copy, that specifies the reason that the copy is being filed and recorded in place of the original instrument, and that includes a statement by the person that the copy is a true copy of the original instrument. Please use a “subscribed and sworn to” form of acknowledgement.

2. Identify the duplicate document as such, by writing the word “DUPLICATE” on the face of the document or by stamping it “DUPLICATE,” and make sure that the document includes the name of the title company presenting the document for recording.

In this way, when title is subsequently examined and a duplicate is found, the title examiner will know to scrutinize that document more carefully and will at least know who recorded the document, in case any further inquiry about the duplicate is deemed appropriate. 

If you have any questions relating to this or other bulletins, please contact a Stewart Title Guaranty Company underwriter.

For on-line viewing of this and other bulletins, please log onto http://vuwriter.com.

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:
None
Exceptions Manual:
None
Forms:
None