Bulletin: WI2018001

Date:
January 02, 2018
To:
All Wisconsin Issuing Offices
RE:
LEGISLATIVE UPDATE - Termination of Statewide Rental Weatherization Program

Dear Associates:

As a result of 2017 Wisconsin Act 59 signed into law, the Wisconsin Rental Weatherization program provisions under Wisconsin Statutes §101.122 and related sections will be terminated as of January 1, 2018. Therefore, stipulations, waivers, and certificates of compliance are no longer necessary for transactions closing after the program termination date. Additionally, until the Department of Revenue can update the Electronic Real Estate Transfer Return to address the removal of the Rental Weatherization information, the Department has instructed that the Transfer Tax Return be completed by entering the exclusion code of W-11 with Program Elimination as the explanation for the exclusion code selected. This should allow the deed for your transaction to be recorded without issue.  

If your title search shows an open stipulation dated prior to January 1, 2018, you should contact your underwriter for further direction if issuing an owner’s policy. When issuing a loan policy, you may issue your commitment and final policy clear of any open stipulation.  

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