Bulletin: MN2016001

Date:
February 09, 2016
To:
All Minnesota Issuing Offices
RE:
RATES AND/OR FORMS UPDATE - New Uniform Conveyancing Forms for Trustees and Custodians

Dear Associates:

Effective January 1, 2016, new Uniform Conveyancing Blank forms became available in Minnesota for conveyances that involve trustees and custodians, more particularly described as follows:

FORM

NUMBER

Certificate of Trust by Individual

90.1.1

Certificate of Trust for Business Entity

90.1.2

Affidavit of Trustee -- Inter Vivos Trust

90.1.3

Affidavit of Trustee – Testamentary Trust

90.1.4

Certificate of Custodianship by Individual

90.2.1

Certificate of Custodianship by Business Entity

90.2.2

Affidavit of Custodian

90.2.3

Changes in the law for Minnesota trusts (Chapter 501C) and custodianships (Minn. Stat. §507.49 – 507.50) prompted the form revisions. These new forms are substantially similar to the prior uniform trust and custodian forms, with some modification, and reference to the new statutes. A relevant certificate and affidavit should be recorded to support a trustee/custodian conveyance (including a mortgage). Please discontinue use of prior versions and start to use the new forms for applicable transactions at this time.

Minnesota Department of Commerce website (Click to View

Agents please contact PropertyInfo Customer Care or your title production software vendor to get the new rates/forms changes implemented in your system. 

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 www.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