INTRODUCED
BY G. Custer, M. Binkley
By Request of the ****
A BILL FOR AN ACT ENTITLED: "AN ACT GENERALLY REVISING LAWS RELATED TO TITLE INSURANCE REQUIRED FOR A LOCAL SUBDIVISION REVIEW; REQUIRING THAT A SUBDIVISION GUARANTEE MUST BE SUBMITTED WITH A FINAL PLAT; AND AMENDING SECTION 76-3-612, MCA."
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MONTANA:
Section 1. Section 76-3-612, MCA, is amended to read:
"76-3-612. Abstract of title Subdivision guarantee required for review process. (1) The subdivider shall submit with the final plat a certificate of a title abstracter subdivision guarantee issued by an authorized title insurer or its title insurance producer showing the names of the owners of record of the land to be subdivided and the names of lienholders or claimants of record against the land and the written consent to the subdivision by the owners of the land, if other than the subdivider, and any lienholders or claimants of record against the land.
(2) The governing body may provide for the review of the abstract or certificate of title of subdivision guarantee for the land in question by the county attorney where the land lies in an unincorporated area or by the city or town attorney when the land lies within the limits of a city or town.
(3) As used in this section, "subdivision guarantee" means a form of guarantee that is approved by the commissioner of insurance and is specifically designed to disclose the information required in subsection (1)."