Dear ATG Member Agent,


On April 5, 2004, ATG implemented a procedure whereby the ATG Search Department automatically ordered Estimates of Redemption on every search performed where there were sold taxes in Cook County on Title Services deals when the tax sale met certain criteria.


Those original Estimates of Redemption were to be held at ATG in the Chicago office by the Escrow Department representative handling sold taxes until they were ready to be paid. At that time, the Escrow Department representative would fax copies to the member or put the scanned image of the Estimate into REsource.


This procedure, although sound in 2004, has become burdensome for staff and members. Most transactions today take a long time to close from the time a search is ordered. Because Estimates of Redemption are no longer valid after 60 days, the current procedure is no longer practical. Therefore, effective immediately, we have amended our procedure for the redemption of sold taxes:

• Members are responsible for ordering Estimates of Redemption in all situations. Allow adequate time so the Estimate does not expire before the closing date.
  
  NOTE: Members may request an Estimate of Redemption through the ATG Search Department by faxing their request to 312.372.8488 or e-mailing it to dholmes@atgf.com. ATG will not place an order without a formal request.

• Members are responsible for bringing the Estimates of Redemption to their closings.

We hope this will cut down on the number of Estimates that we order and the amount of money billed to our members.


If you have any questions on this new procedure or would like to discuss it, please do not hesitate to contact me at abutera@atgf.com or 312.372.8361.


Sincerely,
August R. Butera

Senior Vice President and General Counsel

Attorneys' Title Guaranty Fund, Inc.