Welcome to the fifth edition of MTM. We hope that perhaps this month’s quiz will afford you a few pleasant and quiet minutes away from the minute by minute stress of dealing with all that is happening around the world and in our local communities. From all of us at the VATC team to you, we appreciate all that you continually do to serve the needs of your clients. Your dedication and ingenuity in the face of obstacles are inspiring. We salute your hard work. Be safe, be well and good luck on this month’s quiz.
Rules
- There are no rules. You may use research, statutes, cases, Title Standards, etc.
- Firm/Team entries are welcome – just give it a name!
- Submit your answers from the web form on this page.
- We will post the answers in the Honor Roll with the next blog.
- Feel free to share this with friends and colleagues
This quiz is closed – see the answers in bold below. To view April’s winners please visit our Honor Roll page. Click here to view May’s quiz.
- Before conducting my first Remote Notarization, I should read and/or review the following:
- Emergency Administrative Rules for Notaries Public and Remote Notarization and Guidance on Emergency Rules promulgated by the Secretary of State
- VATC Remote Notarization – FAQ
- VATC Protocol For Remote Notarization
- All of the above
- The phrase “six-month super priority” applies in what context?
- Common Interest Community HOA Lien (see 27A VSA 3-116(c)
- Child Support Order
- Federal IRS Tax Lien
- None of the above
- Title search reveals a mortgage to ABC Bank with a discharge, recorded in 2018, from XYZ Bank, successor by merger to ABC Bank. The discharge contains the correct names of both the mortgagor and the mortgagee. Under “Date of Mortgage”, however, the preparer mistakenly typed in the date of recording instead. Additionally, the book and page references are not accurate. You found only one mortgage to ABC in the chain of title so you conclude:
- There is a missing Assignment, and you contact seller’s counsel to cure the defect
- The discharge is not valid, but it can be cured by an Affidavit pursuant to 27 V.S.A. Section 470
- The discharge is not defective under Title Standard 18.2
- The discharge is not defective under 27 V.S.A. Section 348
- A POA executed pursuant to 14 VSA §3502(d) which specifically identifies the property and contains a stated duration not to exceed 90 days require all of the following EXCEPT?
- Witness affirmation
- Agent acceptance
- Witness and notary must be two different people
- Statement of durability – (NOTE: The question was edited at the last minute and, as published, there is no correct answer. Therefore, every submission was deemed “correct”. Andy really apologizes for his editing error).
- Under Title 27A “The right or combination of rights to add real estate to a common interest community; create units, common elements or limited common elements within a common interest community; subdivide units or convert units into common elements; or withdraw real estate from a common interest community” is known as:
- Special Declarant Rights
- Development Rights (this is the statutory definition in 27A VSA 1-103(14).
- Association Powers
- Declarant Control