Vermont Attorneys Title Corporation

• Vermont Title Standards Index ›

  • 1.1 The Role of the Examining Attorney
  • 1.2 The Examining Attorney's Attitude
  • 1.3 Definition of Marketable Title
  • 1.4 Reference to Title Standards in Real Estate Sales Contract
  • 2.1 Period of Search
  • 2.2 The Concept of the Chain of Title and its Relationship of the Rule of Record Notice and the Scope of the Title Searcher's Obligation
  • 2.3 Effect of Recording Instruments Claiming an Interest in Real Estate
  • 2.4 Wild Instruments: Instruments by Strangers to the Record Chain of Title
  • 2.4A After Acquired Property
  • 2.5 Priority of Conveyances
  • 2.6 Time When a Conveyance is Considered as Properly "Recorded"
  • 2.7 Record of Expired Leases or Expired Interests
  • 4.1 Limitation on the Use by Grantor of Corrective Deeds
  • 6.1 Grantors
  • 6.2 Majority
  • 6.3 Mental Capacity
  • 6.4 Marital Interests
  • 6.5 Powers of Attorney
  • 7.1 Grantees
  • 8.1 Name Variances
  • 9.1 Execution, Witnessing and Acknowledgement
  • 11.1 Delivery
  • 13.1 Conveyance by Heirs' Deed
  • 13.2 Conveyance by Devisees in Lieu of Probate Administration
  • 13.3 Omitted Real Estate or Faulty Description of Closed Estate
  • 13.4 Conveyance by Trustee of a Non-Probate Trust
  • 14.1 Conveyance to Two or More Persons
  • 18.1 Federal Special Gift Tax Lien
  • 18.2 Irregularities and Discrepancies in Discharges of Mortgage and other Documents
  • 18.3 Discharges of Corrected, Re-Recorded, or Modified Mortgages
  • 18.4 Effect of Failure to Discharge Assignments of Leases and/or Rent, Riders or Financing Statements
  • 18.5 Discharges Involving Mortgage Electronic Registration System (MERS)
  • 20.1 Presumptions Applicable to Corporate Conveyances
  • 22.1 Limited Liability Companies
  • 23.1 Federal General Tax Lien
  • 24.1 Federal Special Estate Tax Lien
  • 25.1 Federal Gift Tax Lien
  • 27.1 Vermont Estate Tax Lien
  • 28.1 Establishing Marketable Title To Interests In Real Property Owned By Failed Financial Institutions
  • 28.2 Title of the Receiver of a Failed Financial Institution to the Assets of That Institution
  • 28.3 Title of the Immediate Transferee of the Receiver of a Failed Financial Institution
  • 28.4 Marketability of Title In a Real Estate Interest of a Failed Financial Institution for Which No Conveyance, Transfer or Assignment Appears of Record Prior to the Dissolution of the Bridge Institution Which Had Continued The Business of the Failed Institution
  • 28.5 Discharges, Partial Releases, Assignments and Foreclosure of Mortgages of a Failed Institution By a Transferee of the Receiver For Such Failed Institution

CHAPTER XX

STANDARD 20.1

PRESUMPTIONS APPLICABLE TO CORPORATE CONVEYANCES

When a conveyance or other instrument of a corporation executed in the name of the corporation appears in the chain of title and it is in proper form, it shall be presumed (1) that the person executing the instrument was the officer or agent they purported to be and was duly authorized to execute the instrument for and on behalf of the corporation; and (2) that the corporation was legally in existence at the time the instrument took effect.

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Comment 1. An attorney representing a grantee from a corporation in a current transaction must establish that the conveyance or instrument was authorized, the particular officer or agent who acts on behalf of the corporation is, in fact, the officer or agent the person purports to be, and that such officer has the authority to execute the instrument in question. A certificate by the secretary of the corporation that shows both agency and authority suffices, but this certificate need not be re­corded. However, it is recommended that the attorney be satisfied, to the extent it is practical, that the corporation is in existence at the time of conveyance by obtaining a Certificate of Good Standing from the Secretary of State.

Comment 2. See, Miller v. Rutland & Washington Railroad , 36 Vt. 452-502 (1863)

Comment 3. If the conveyance or instrument otherwise meets the requirements of this stan­dard, the absence of the printed name of the corporation above the signature does not defeat the presumption of this Standard.

Comment 4. If the deed identifies a corporation as the Grantor and the signature is by an individual without the name of the corporation, and there appears in the instru-me­nt a recital of authority such as the word or words “agent”, “duly authorized” or “by” or “for”or similar terms or by official position, the presumption of this Standard shall apply.

History

This standard added 2003.

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