Bulletin: FL2019002

Date:
February 26, 2019
To:
All Florida Issuing Offices
RE:
UNDERWRITING - Miami-Dade Ordinance Section 18-20.2 - Disclosure of Special Taxing District to Purchasers Amended

Dear Associates:

We recently issued bulletins (FL2018002 and FL2018003) regarding the Miami-Dade County ordinance which had it ever taken effect would have required the special taxing district be disclosed on deeds and the information provided be acknowledged by the deed's grantees.

Please be advised that the ordinance has been amended and the proposed requirement that the disclosure be in the deed has been abolished. The disclosure must now be contained in the real estate contract or an addendum to the contract and applies not only to developers of residential property but to existing residential property as well. The required disclosure language is contained in the ordinance which is attached to this bulletin. Based on this amendment, the required disclosure is no longer a title matter since it is not required to be on the deed, but rather is a contractual matter for the Seller and their sales representative (i.e. agents, brokers, etc.) to address. 

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

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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.