Loan Policy: Commercial Property

STG does not require a survey in order to give extended coverage as to survey matters in Loan Policies or Short Form Commercial Loan Policies issued on commercial transactions with liabilities of up to $25,000,000 per site.  You must include specific exceptions (such as specific encroachments) as provided above for matters actually known by you.  If the liability for a site exceeds $25,000,000 and you are requested to provide extended coverage as to survey matters without a survey, please call a Senior Underwriter.

Loan Policy:  Endorsements
You may issue the ALTA Form 9, 9-06, 9.3 or 9.3-06 Endorsement or CLTA Form 100 Endorsement (or similar Endorsement available in your jurisdiction) on Loan Policies covering 1-4 family residential properties or on Loan Policies relating to commercial transactions of up to $25,000,000 per site without a survey, if you include specific exceptions for matters (such as specific encroachments) actually known by you and if you comply with our other requirements for issuance of these endorsements.  If the liability for a site exceeds $25,000,000, please call a Senior Underwriter.

ALTA Owner's Policy:  Residential Property
STG does not require a survey in order to give extended coverage as to survey matters in Owner's Policies covering 1-4 family residential property in platted subdivisions, if you include specific exceptions for matters (such as specific encroachments) actually known by you.

ALTA Homeowner's Policy: Residential Property
STG doesnot require a survey to issue the ALTA Homeowner's Policy.  Please see our Bulletins MU000030 and MU000036.

Short Form Residential Owner's Policy
STG does not require a survey to issue the Short Form Residential Owner's Policy.  Please see our bulletin MU2007001. 

Owner's Policy: Commercial Property
You may provide survey coverage on Owner's Policies covering commercial property based on a prior survey of any date if (1) you secure the affidavit (or similar representation made in the transaction) in Exhibit 1 from the seller, and (2) you do not have actual knowledge that improvements have been added since the date of the prior survey, and (3) you add specific exceptions for matters (such as specific encroachments) shown on the survey. You may also rely on the prior survey for issuance of other endorsements (such as survey, contiguity or ALTA 9.1 or 9.1-06, 9.2 or 9.2-06, 9.4 or 9.4-06, or 9.5 or 9.5-06), that require review of a survey.

You may provide survey coverage on an Owner's Policy not exceeding $10 million and covering commercial property without a prior or new survey if (1) you secure the affidavit (or similar representation made in the transaction) in Exhibit 2 from the seller, and (2) you are satisfied that the improvements, including any walls, fences and other improvements, are not encroaching over the property line, such as by aerial photography or an inspection, and it does not appear that major buildings are bisected by known underground lines or easements, (3) the land is platted or you compare the legal description of the land to the last description used for adjoining tracts to verify no apparent conflict, and (4) you add specific exceptions for matters (such as specific encroachments) disclosed in the affidavit or inspection. 

Overlimits
You must secure overlimits approval from our underwriting personnel for issuance if the policy to be issued will exceed your authority to issue without underwriter approval. 

Current Construction
You may provide the survey coverage pursuant to this bulletin as long as there is no known current construction.  You may, for example, provide the survey coverage on a refinance after completion or a sale after completion.

Construction loan policies are not covered by this bulletin.

Marketing
We recommend that you market our guidelines to real estate brokers and attorneys.

Please contact a Stewart underwriter if you have any questions concerning this or any other topic for which you need assistance. For on-line viewing of this and other bulletins, log onto http://www.vuwriter.com.