Welcome to the 7th edition of MTM. Your comments and feedback are always welcome!
Business remains a bit frenetic and several town clerks still refuse to unlock their doors. That said, it’s busy out there. As you package documents up for recording, please take extra care to check for execution AND to make sure that all documents are included for recording. We’re seeing some execution errors (often involving use of a POA) and we’re seeing instances of failure to include POA with the recording. An extra 60 seconds of review now could save 30 minutes of uncompensated time later.
In the meantime, as with last month’s quiz, we hope that MTM affords you a few quiet minutes away from the stresses of dealing with all that is swirling around out there.
From the VATC team to you, please know that we appreciate all that you continually do to serve the needs of your clients. Your ability to navigate challenges is inspiring. We salute your hard work. Be safe, be well and good luck on this month’s quiz. We’ll “see” you on June 16 but only if you’ve registered for our on-line 2 hour CLE program. To register, visit our seminars and events page.
- 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 June’s winners please visit our Honor Roll page.
- Vermont’s Emergency Administrative Rules for Notaries Public and Remote Notarization temporary allow for what type of remote notarizations?
- Remote Online Notarization (RON)
- Remote Ink Notarization (RIN) [Several people chose option A which is a different animal involving electronic signatures. VT may get to RON but right now RIN is the correct state of affairs]
- Electronic Notarization
- Remote Hybrid Notarization (RHN)
- Husband and wife own property as TBE. The title search reveals a mortgage which is missing Husband’s signature. The mortgage was subsequently re-recorded with the husband’s missing signature. A mortgage discharge is recorded which recites only the date and recording information of the re-recorded Mortgage. Which of the following provides you with the guidance you need to determine whether the discharge of the re-recorded mortgage (versus the original defective mortgage) is valid.
- Title Standard 18.2
- Title Standard 18.3, Section C
- Title Standard 18.3, Section B
- 27 V.S.A. Sect. 348(d)
- Title search indicates property is a unit in a Title 27A (UCIOA), Planned Community. The Declaration declared 12 Units and reserved development rights to create 6 additional Units, for a stated maximum number of 18 Units. The Declaration claims exemption from the Act based on Sect. 1-203(a)(1) because it contains no more than 24 Units. Are there any issues?
- Yes because the Declarant did not provide a time limitation to act on reserved development rights
- Yes because an exempt Planned Community under 1-203(a)(1) cannot have reserved development rights
- No, this is acceptable and complies with the Act
- Yes because an exempt Planned Community under 1-203(a)(1) must be 12 Units or fewer
- In a judicial foreclosure proceeding commenced after July 1, 2012, which of the following, when recorded, transfers title to the high bidder?
- Judgment Order
- Writ of Possession
- Confirmation Order [See VSA 4954(b)]
- d. Judgment Order and Certificate of Non-Redemption
- Title search reveals a deed which recites that the property is lease land, subject to an annual payment due to the Town. Accepting the statement to be true, your next step is:
- To contact the Town to request a deed conveying the Town’s fee interest in the property.
- To contact the owner and ask if they have been making payments to the Town and, if not, file a quiet title action.
- There is no next step because, pursuant to Act 152 of the 2017-18 Legislative session, municipally owned lease land became automatically vested in the lessee of record and no further action is needed.
- To determine whether the Town affirmatively voted to retain its legal interest in the lease land prior to 1/1/2020 pursuant to Act 152 of the 2017-18 Legislative session, and proceed from there.