- March 11, 2020
- All Arizona Issuing Offices
- UNDERWRITING - Sale of Real Property to United States - A.R.S. 37-620-02
Arizona Revised Statues 37-620.02 provides in part:
“… the consent of this state may be given to the acquisition of any other privately owned real property within this state by the United States only upon the governor's signing a joint resolution adopted by the legislature to that effect. The joint resolution shall recite the legal description of the land and the purposes to which the state consents that the property may be used.”
Any transaction in which the United States will acquire an interest in real property in Arizona must be reviewed for compliance with A.R.S 37-620.02 and submitted to Stewart Underwriting for review and approval.
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.