Virtual Underwriter

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Bulletin: AZ000009

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Bulletin: AZ000009

Bulletin Document
V 1
Date: August 19, 1997
To: All Issuing Offices in Arizona
RE: GOLD POLICY

Dear Associates:

The National Legal Department is currently drafting guidelines for issuance of the Gold Owner's Policy and the Gold Loan Policy.

In addition to the guidelines in the forthcoming National Bulletin, you should show as exceptions in the Gold Owner's Policy the following:

1. Water rights, claims or title to water, whether or not they are shown by the public records.

2. Any rights, interests or claims of parties in possession of the land which are not shown by the public records.

3. Any easements or liens not shown by the public records. This exception does not limit the lien coverage in Item 8 of the Covered Title Risks.

4. Any facts about the land which a correct survey would disclose and which are not shown by the public records. This exception does not limit the forced removal coverage in Item 12 of the Covered Title Risks.

These are the same exceptions as set forth in Underwriting Bulletin AZ000005 for the ALTA Residential Owner's Policy. The Gold Owner's Policy is an extension of the coverage contained in the ALTA Residential Owner's Policy. Please, therefore, also follow the guidelines in the Underwriting Bulletin AZ000005, as well as the forthcoming guidelines in the National Bulletin.

If you have any questions regarding the issuance of the Gold Owner's Policy or the Gold Loan Policy, contact Stewart Title Guaranty Company underwriting personnel.

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.

References