Welcome to the 10th edition of MTM. Your comments and feedback are always welcome!
Well, August has come and gone. The temperature is dropping but only on the thermometer – not on the volume of business. We hear that many offices are slowly returning to the “new normal” with more employees returning to the workforce. Other offices continue to blend in-office with work-from-home. We continue to hear that municipal clerks are making things very difficult. VATC may to have a solution to that problem – please stand by and cross your fingers.
No Lake Monsters this year. We really missed seeing all of you and your families, not to mention we missed Champ. No State Fairs this year. That is certainly no fair (groan).
For those with school age children or grandchildren (from daycare, to pre-K and through to college) we wish everyone a safe, happy and healthy return to school.
Below, we have what we think is a challenging quiz but we know you are up to it! Good luck.
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, to view September’s winners view our Honor Roll.
- Using the statutory form Enhanced Life Estate deed found in 27 VSA §660, Grantor conveyed an undivided 1/3 interest in her property to each of her 3 children as joint tenants with right of survivorship. Sibling 1 predeceased the Grantor. Assuming no new or revised ELE deed, upon the death of Grantor, Sibling 1’s undivided interest in the property:
- Reverts by operation law back to the Estate of the Grantor.
- Vests in Sibling 1’s heirs and will be distributed as directed by the probate court.
- Will be distributed pursuant to common law.
- Vests in Siblings 2 and Sibling 3. [See 27 VSA 658(3)]
- A 1987 deed in the chain of title provides: “Property is, or may be, lease land or glebe land, so-called”. After sighing and cursing your bad luck, you:
- Remember that 24 VSA §2409 et seq. provides that regardless of who owns the fee, all lease land or glebe land interests terminated as a matter of law on 1/1/2020 and you insure without Exception.
- Decide you must conduct a deeper historic search to learn the identity of the fee owner before formulating a plan of attack because you don’t yet know who owns the fee and it could be an entity such as the University of Vermont.
- Confirm with the town clerk that the legislative body did NOT affirmatively elect to retain its lease land prior to 1/1/2020 and insure over.
- Require seller to obtain a deed from the municipality, “just in case”.
- If the terms and conditions of the title insurance commitment were not satisfied at closing, Pillar 5 of the American Land Title Association’s Best Practices standard requires verification that the final policy be sent to the customer ________.
- Within 90 days from the date on which all terms and conditions were satisfied.
- Whenever time permits and the market is really busy right now.
- Within 30 days from the date on which all terms and conditions were satisfied.
- Within 7 days after a claim is first filed against the unissued policy.
- 26 VSA 5367 requires that a notary public use an Official Stamp or clearly print (or type) their name and their commission number on the Certificate. If an Official stamp is used, it must contain:
- The notary public’s name, jurisdiction, and other information required by the Office of Professional Regulation.
- The notary public’s name.
- The notary public’s name commission number.
- The notary public’s commission expiration date.
- The filing of a certified copy of the abstract of a federal civil judgment in the land records creates a ___ year lien on all real property of the judgment debtor?
- 6
- 8
- 20 [Yes, this is ugly. See 28 USC 3201 and Comment 5 to Title Std. 2.2]
- 15