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.
Bulletin: NY000050
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Bulletin: NY000050
Dear Associates:
The City of New York is changing the way water and sewer charges are processed. After a conversion procedure which is expected to take until April of 1995, all new water and sewer charges will be posted in the City's Department of Environmental Protection (DEP) computer system. In the interim, as accounts are converted, new charges for each converted lot will appear only on the DEP system and not in the Department of Finance (DOF) system. Old charges will appear only in the DOF system.
DEP is evaluating the possibility of consolidating the record of existing charges from the DOF system to the DEP system. There is no guarantee that this will occur.
The DEP advisory indicates that additional notices will be given to the New York State Land Title Association during the conversion.
Tax searches in New York City must be run on both the DOF and DEP systems until further notice in boroughs where the conversion process has begun.
References
- Bulletins Replaced:
- None
- Related Bulletins:
- Underwriting Manual:
- Exceptions Manual:
- None
- Forms:
- None