Bulletin: CO2022002

Dear Associates:

The County offices of Fremont County, Colorado are currently closed for an indefinite amount of time.  
Despite the closure, Stewart will continue to issue policies, with an effective date as of the date of recording, provided 1) you are able to do customary searches of the title with a certification date of August 11, 2022, or later (including real estate taxes)  2) you are able to submit documents electronically for recording at date of closing, 3) the transaction meets the following conditions:

• The policy will not exceed $3 million;
• The title examination does not show that the seller, purchaser, or borrower is subject to any outstanding involuntary or statutory liens (such as judgment liens, tax liens, or mechanic's liens) or lawsuits;
• The insured mortgage is not a construction mortgage and there has been no recent construction.

(The 3 conditions above should not be shown as requirements on the Commitment or as exceptions in a policy.)

If the transaction meets the 3 conditions above, the following requirements should be made on Schedule B-1 of the Commitment:

• Stewart’s customary Title Affidavit from the current owner; 
• The attached Gap Indemnity executed by the seller and purchaser and/or borrower.
• The attached Acknowledgment executed by the purchaser and/or borrower.
• The Commitment should also include the following Note at the end of Schedule B-1:

“NOTE: Due to the closure of the Fremont County Clerk and Recorder’s office, there may be a delay of unknown duration in the recording of the deed, mortgage, deed of trust, satisfactions, releases, or other recordable documents, etc. (collectively “Recordable Documents”). The return of the original Recordable Documents may be delayed.

The foregoing does not alter or diminish the coverage under the title insurance policy and the effective date of the policy will reflect the date of closing or the date of recording, whichever is later.”

This Bulletin will be revised or withdrawn on or before September 30, 2022, as new information becomes available.
If your transaction will not comply with these guidelines or if you have any questions, please call a Stewart Title Guaranty Company Underwriter.

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