Bulletin: VA2019003

Date:
October 31, 2019
To:
All Virginia Issuing Offices
RE:
RATES AND/OR FORMS UPDATE - ALTA Policy Forms and Endorsement Filings - New Forms

Dear Associates:

The Virginia Bureau of Insurance has approved new ALTA endorsement forms for use in Virginia. The effective date for these new ALTA forms is November 4, 2019. The ALTA endorsements are below:

ALTA ENDORSEMENTS

ALTA 3.3-06 ZONING - COMPLETED IMPROVEMENT - NON-CONFORMING USE (12-1-18)

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 (12-1-18)

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 (12-1-18)

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.

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

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 your state should be used, unless approved by a Stewart underwriter. 

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.