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: WA000033
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Bulletin: WA000033
Dear Associates:
Washington's new mechanic's lien act goes into effect on June 1, 1992. It does not affect title practices. Filing periods of 90 days to record and 8 months to file suit remain the same.
Priority rules are changed only as to surveyors and engineers who will now enjoy priority similar to other laborers when they commence work. No other priority issues were addressed by the legislature.
The only change you will see is a new claim of lien form. This new form contains the same information as the old form but sets it out more clearly.
Why a new construction lien act? This legislation has new consumer protection notices between owners, contractors and suppliers to more fully inform everyone of their rights. It also cleans up some loose ends in the old statutes and makes claims of lien easier to foreclose. It does not affect title companies.
References
- Bulletins Replaced:
- None
- Related Bulletins:
- None
- Underwriting Manual:
- Exceptions Manual:
- None
- Forms:
- None