The United States Postal Service was created as an independent establishment of the Executive Branch of the Government of the United States effective July 1, 1971 (39 USC Sec. 201). Among general powers of the Postal Service is the power "to acquire, in any lawful manner, such personal or real property, or any interest therein, as it deems necessary or convenient in the transaction of its business; to hold, maintain, sell, lease, or otherwise dispose of its business; to hold, maintain, sell, lease, or otherwise dispose of such property or any interest therein; and to provide services in connection therewith and charges therefore" (39 USC Sec. 401(5)).
In essence, the United States Postal Service is authorized by law to take title to real estate in its own name as "United States Postal Service."
The Postal Service has requested that it be insured in an ALTA United States Form but with certain policy modifications.
The modifications, to be made by endorsement, are the following:
- To substitute "United States Postal Service" for "The United States of America" as the name insured.
- To delete "of America" in the last line of general exception 2(d), Schedule B, and to insert in lieu thereof, "Postal Service."
- To insert "Postal Service" between "United States" and "or" in the line of paragraph 4 of the Conditions and Stipulations.
- To add to the Conditions and Stipulations the following provisions:
- "9. In the event that the interest of the United States Postal Service with respect to the land referred to in this policy are not represented by the Attorney General of the United States at the time any election, notice, request, permission, cooperation, assistance, or statement is required or permitted by these Conditions and Stipulations, these Conditions and Stipulations shall be satisfied if such election, notice, request, permission, cooperation, assistance or statement, otherwise conforming hereto, is made, given, or furnished by or to the United States Postal Service."