- January 25, 2017
- All North Carolina Issuing Offices
- UNDERWRITING - North Carolina Boundary Re-Survey
Recently, the Real Property Section of the North Carolina Bar Association and the North Carolina Land Title Association adopted suggested procedures for dealing with the recent legislation affecting the boundary between North Carolina and South Carolina. Stewart Title will be following this recommendation, with the addition that any commitments and/or policies issued on affected property must be approved by state underwriting counsel. A copy of this memo is attached hereto for your review.
Stewart has modified the Requirement as set forth in the memo and has made some additional conditions as follows:
Counties Affected: Anson, Brunswick, Cleveland, Columbus, Gaston, Henderson, Jackson, Mecklenburg, Polk, Richmond, Roberson, Rutherford, Scotland, Transylvania, Union
The following Requirement for properties all or a portion of which may have been believed to be in SC and now found to be in NC under the re-surveyed boundary (the “affected parcels”) must be added on all such Commitments:
R#. For any portions of the Land lying in North Carolina on or near the South Carolina boundary identified pursuant to the confirmed boundary under S.L. 2016-23, previously believed to be in South Carolina (the “affected portion of the Land”) and title to which was previously recorded in South Carolina, and for which a Notice of Affected Parcel should appear in the North Carolina County Registry wherein the Land is in fact located, opining attorney must provide:
(1) a title opinion from a South Carolina licensed attorney who is a Stewart Approved Attorney as to the status of title to the affected portion of the Land according to the South Carolina public records through the date of the opinion, based on generally accepted standards of practice for South Carolina title examination, certification (and generally accepted standards for tacking to a prior policy); any matters of record before or after the January 1, 2017, effective date should be noted.
(2) a title opinion from a North Carolina licensed attorney who is a Stewart Approved Attorney as to the status of title to the Land according to the North Carolina public records through the date of the opinion, based on generally accepted standards of practice for North Carolina title examination, certification (and generally accepted standards for tacking to a prior policy); any matters of record regarding the affected portion of the Land before or after the January 1, 2017, effective date should be noted.
Upon receipt of said opinions, this requirement will be removed or amended and exceptions or further requirements may be added in accordance with the facts disclosed thereby. [NOTE: It shall not be necessary nor is it recommended that South Carolina documents be re-recorded in North Carolina, since the South Carolina public record constitutes the “official” title prior to the boundary confirmation date.]
Stewart Title Notes:
- ALL commitments and policies issued under this Bulletin must first be approved by state underwriting counsel.
- Separate policies must be issued for respective portions of properties located in both NC and SC. Stewart will gladly assist you in finding Stewart approved South Carolina counsel in the area.
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.