Bulletin: MU2019001

Date:
March 01, 2019
To:
All Issuing Offices except Delaware, Florida, Indiana, Louisiana, New Mexico, New Jersey, New York, North Carolina, Ohio, Oregon, Pennsylvania and Texas
RE:
RATES AND/OR FORMS UPDATE - New and Revised ALTA Forms

Dear Associates:

The American Land Title Association (ALTA) recently adopted and/or revised the following forms:

ALTA 3.3[-06] ZONING - COMPLETED IMPROVEMENT - NON-CONFORMING USE ENDORSEMENT. This endorsement insures against loss or damage sustained by the Insured resulting from a Non-Conforming Use not being allowed by the municipality or county because the Non-Conforming Use violates a Zoning Ordinance; or a final decree of a court of competent jurisdiction either prohibiting the Non-Conforming Use or requiring the removal or alteration of the Improvement because, at the Date of Policy, the Non Conforming Use violates a Zoning Ordinance with respect to delineated matters. Certain exclusions apply. This endorsement can be issued with Owner’s or Loan Policies. 

ALTA 3.4[-06] ZONING - NO ZONING CLASSIFICATION ENDORSEMENT. This endorsement insures against loss or damage sustained by the Insured resulting from an existing use not being allowed by the municipality or county because the use violates a Zoning Ordinance; or a final decree of a court of competent jurisdiction either prohibiting the use or requiring the removal or alteration of the Improvement because, at the Date of Policy, the use violates a Zoning Ordinance with respect to delineated matters. Certain exclusions apply. This endorsement can be issued with Owner’s or Loan Policies. 

ALTA 18.3[-06] SINGLE TAX PARCEL AND ID ENDORSEMENT. This endorsement insures against loss or damage sustained by the Insured by reason of the Land being taxed as part of a larger parcel of land or failing to constitute a separate tax parcel for real estate taxes; or any portion of the Land not being assessed for real estate taxes under a tax identification number. This endorsement can be issued with Owner’s or Loan Policies.  

Technical corrections were made to the following forms:

ALTA® Endorsement 9-06 Restrictions, Encroachments, Minerals - Loan Policy (04-02-2012) (Redline of Technical Corrections (12-01-2018))

ALTA® Endorsement 32-06 Construction Loan (04-02-2012) (Redline of Technical Corrections (12-01-2018))

ALTA® Endorsement 32.1-06 Construction Loan - Direct Payment (04-02-2013) (Redline of Technical Corrections (12-01-2018))

ALTA® Endorsement 32.2-06 Construction Loan - Insured’s Direct Payment (04-02-2013) (Redline of Technical Corrections (12-01-2018)

These forms are immediately available for use in Illinois, Iowa, Massachusetts, Mississippi, and Oklahoma. In those states where form and/or rate filings are required, we will distribute subsequent state-specific bulletins as these forms become available. 

As a reminder, other forms should not be used if a comparable ALTA version is available. If a comparable ALTA version is available, the most current version of the ALTA form available in each state should be used, unless approved by a Stewart underwriter.

Please contact Property Info Customer Care or your title production software vendor to get the new forms uploaded to 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.