HOUSTON, Jan. 11, 2001 (PRIMEZONE) -- Stewart Water Information, LLC, a Title Insurance Agent in the state of Utah, has announced that it will begin providing Reports of Water Right Conveyance and water rights title insurance in Utah. This service is pursuant to new legislation requiring that water rights must be purchased and sold similar to real estate. Stewart Water Information specializes in providing water rights ownership information and is a subsidiary of Stewart Information Services Corp. (NYSE:STC).
Utah Code Section 73-1-10 was amended by House Bill 184, which became effective May 1, 2000. The legislation requires that a "Report of Water Right Conveyance" be submitted to the state engineer's office before its records will reflect any change in water rights ownership. "Stewart Water Information has been providing water rights information services in the state of Colorado," said Joe Knox, president of Stewart Water Information. "Expanding into Utah was a natural move for us to provide this expertise to consumers, real estate brokers, attorneys and title agents."
"Stewart Water Information meets the statutory requirements and qualifies as one of the professionals designated to prepare the Report of Water Right Conveyance for the state engineer's office," said Knox. "We have consolidated existing private and governmental databases to provide reports that are current, complete and reliable. Reports may be easily ordered online at www.stewartwater.com, or by contacting our Salt Lake City office."
For additional security, Stewart Water Information also offers water rights title insurance, underwritten by Stewart Title Guaranty Co. "As our underwriter, Stewart brings the financial strength, innovative technology and quality service that assures the security of your water rights investment," said Knox. Stewart is one of the nation's four largest title insurance companies.
Stewart Water Information provides water rights information on title, sales, applications, tabulations, well permits, court decrees, diversion records and monthly resumes. Water searches may be done to retrieve data based on location details. Individualized special services include title searches, well testing and applications. "Historically, attorneys and engineers have provided water right abstracts to people seeking information on water rights," said Knox. "Stewart Water Information is the first company of its kind to offer water rights information on a statewide basis."
Customers using Stewart Water Information services include real estate brokers, lenders, attorneys, title agents, potential land buyers, appraisers, engineers, planners, mining and oil companies, environmental organizations, stock growers associations, surveyors, ditch and irrigation companies, water districts, and local, state and federal government entities.
Stewart Water Information's Utah office is located at 455 East 500 South, suite 200, Salt Lake City, 84111, telephone number 801-595-5764. The company's main office is in Crested Butte, Colo.
Stewart Information Services Corp. is a technology driven, strategically competitive, global real estate information company. Stewart provides title insurance and related services through more than 5,300 issuing locations in the United States and several international markets. A leading provider of real estate information technology and connectivity, Stewart meets the needs of the real estate and mortgage industries through the electronic delivery of services required for settlement. These services include title reports, flood determinations, property appraisals, document preparation, credit reports and other real estate information. In addition, Stewart provides expertise in tax-deferred exchanges, surveys and field services. More information about Stewart can be found at www.stewart.com.