Welcome to the 2nd edition of what we hope will it be a fun and informative blog featuring a quiz to test your knowledge of Vermont title law. The blog will post on the first Wednesday of every month. At the outset, we tip our cap and give a round of applause to Mike Kennedy in his now famous Ethics blog. We will borrow shamelessly, but hopefully ethically, from Mike’s concept – starting with the 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
Comments and feedback welcome. Enjoy. ~ The VATC Team
This quiz is closed – see the answers in bold below. To view winners please visit our Honor Roll page. Or, click here to view the latest quiz.
Answers to January’s Quiz
- Property is owned by husband and wife, tenants by the entirety, and there is a Judgment Order lien filed against husband only. In what circumstance does the Judgment Order need to be paid and discharged?
- If couple is selling
- If couple is selling, but only if it is their primary residence
- If couple is refinancing [If, post-refinance, the liened spouse becomes sole title holder either via death of non-liened spouse or divorce, the recorded lien may have priority the re-fi mortgage. The lien must be satisfied before recording the refinance mortgage can be insured]
- None, it does not attach and therefore does not need to be paid
- Generally speaking, what is the difference between an appurtenant easement and an easement in gross?
- An appurtenant easement benefits another parcel of land; an easement in gross benefits another person
- An appurtenant easement runs with the land; an easement in gross typically does not
- The holder of an appurtenant easement owns adjoining land; the holder of an easement in gross typically does not
- All of the above. [Generally speaking, d is correct. Look for a new Title Standard on Easements in the September 2020 Release]
- A Title Insurance Policy insures which of the following in addition to Marketable Title:
- Access to the Insured Property
- Value as listed in the Schedule A
- Common Elements in a Planned Community under Title 27A are defined as:
- All portions of the common interest community designated as common elements on a 2-109 certified plat
- All portions of the common interest community other than the units
- All portions of the common interest community defined as common elements under the terms of the Declaration
- Any real estate owned or leased by the association, other than a unit [See definition in 27A VSA §1-103(4)(B).
- True or False: An Association of a Condominium created prior to 1999 does not need to provide a buyer with a Resale Certificate?