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: TX000002
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Bulletin: TX000002
Dear Associates:
The state legislature passed Chapter 446 (H.B. No. 1801) during the 1989 legislative session. This act provides that a municipality without zoning may require that a seller of land within the municipality provide (and record) a written notice of restrictions and notice of the municipality's right to enforce compliance at the final closing.
The City of Houston, pursuant to this legislation, passed ordinance No. 89-1312 on September 20, 1989 requiring that such notice of restrictions be given. Pursuant to that ordinance, a notice by the City of Houston was filed under Clerk's File No. M337573 of the Real Property Records of Harris County, Texas. This notice provides that, effective October 20, 1989, a seller of real property must give the notice of restrictions to the purchaser. Both the seller and the purchaser must sign and acknowledge the notice and the notice must be recorded in the real property records in the county where the land is located. Failure to comply with applicable ordinance will subject the seller to a penalty not to exceed $500. According to the ordinance, notice is not required in connection with certain transfers such as a trustee's deed, deed in lieu of foreclosure, or deed of trust.
This notice is required not only on residential property but also on all other real estate.
Should you have any questions, please do not hesitate to call our office.
References
- Bulletins Replaced:
- None
- Related Bulletins:
- None
- Underwriting Manual:
- Exceptions Manual:
- Forms:
- None