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
  • 15.1 Deeds Retaining Life Estates With Reserved Powers
  • 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)
  • 19.1 Tax Collector's Deed
  • 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

Standard 13.4

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Conveyance by Trustee of a Non-Probate Trust

A title examiner may presume that the trustee of a non-probate trust, named as grantor in an instrument in the chain of title, had authority to convey, with or without a certificate of trust or other recorded evidence of authority.
A conveyance by the current trustee of a non-probate trust shall be effective to transfer title to real estate even if the record title is held in the name of the trust or a former trustee.

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Comment 1: See 27 VSA §§351 and 352 for the presumptions available and the required elements of the certificate of trust for transactions where the current grantor is a trustee.

Comment 2:  If the Settlor of a Trust is deceased at the time of the transfer by a Trustee, an unrecorded tax lien under Federal (Estate or Gift Tax) or Vermont (Land Gains) laws may encumber the property.

History

March 29, 2000:

Title - Replaced the words “INTER VIVOS” with A NON-PROBATE.

Body of Standard - replaced the words “an inter vivos” with the words a non probate in the first sentence.  Added the words receipt and recording before the colon.  Added the words commonly referred to as a “Trustee Certifi¬cate” in the second sentence.   Omitted the last two sentences of the Standard.

Comment 2 - Added new Comment 2 to address the material removed from the last two sentences of the Standard.

Comment 3 – Added new Comment 3 as guidance for practitioners involved intransfers where there is a possibility of the Special Estate Tax Lien or Special Gift Tax Lien arising.

 
September 26, 2008: 

Body of Standard: Revised the standard as a result of the adoption of 27 V.S.A. §351 & § 352. (See 2003, Act 150 (Adj. Sess.) §3.)

Comments were revised as follows: Comment 1 was deleted and new comment 1 inserted in its stead. Former comment 2 was deleted. Former comment 3 was amended and  renumbered as Comment 2.

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