Vermont Contract for Deed Law

Contract for Deed - General - Vermont

VERMONT STATUTES
TITLE TWENTY-SEVEN PROPERTY
CHAPTER 5: CONVEYANCE OF REAL ESTATE
SUBCHAPTER 1. MANNER OF CONVEYING INTERESTS IN OR AFFECTING REALTY

27 V.S.A. § 301. Manner of conveying

Conveyance of land or of an estate or interest therein may be made by deed executed by a person having authority to convey the same, or by his attorney, and acknowledged and recorded as provided in this chapter.
Source. V.S. 1947, § 2638. P.L. § 2587. G.L. § 2734. P.S. § 2572. V.S. § 2208. R.L. § 1922. G.S. 65, § 1. R.S. 60, § 1. R. 1797, p. 304, § 2.

27 V.S.A. § 302. Effect of oral conveyance

Estates or interests in lands, created or conveyed without an instrument in writing shall have the effect of estates at will only. An estate or interest in lands shall not be assigned, granted or surrendered unless by operation of law or by a writing signed by the grantor or his attorney.
Source. V.S. 1947, § 2638. P.L. § 2587. G.L. § 2734. P.S. § 2572. V.S. § 2208. R.L. § 1922. G.S. 65, § 1. R.S. 60, § 1. R. 1797, p. 304, § 2.

27 V.S.A. § 303. Trusts concerning realty

A trust concerning lands, excepting such as may arise or result by implication of law, shall not be created or declared, unless by an instrument in writing signed by the party creating or declaring the same, or by his attorney.
Source. V.S. 1947, § 2650. P.L. § 2598. G.L. § 2745. P.S. § 2583. V.S. § 2219. R.L. § 1933. G.S. 65, § 22. R.S. 60, § 22. R. 1797, p. 305, § 3.

27 V.S.A. § 304. Assignment of lease to be by deed

The assignment of a lease of lands, if the lease is for a longer term than one year, shall be by deed, signed, sealed, witnessed, acknowledged and recorded as provided for deeds in this chapter. An assignment otherwise executed shall be void as against all persons but the assignor, his heirs or devisees.
Source. V.S. 1947, § 2651. P.L. § 2559. G.L. § 2746. P.S. § 2584. V.S. § 2220. R.L. § 1934. G.S. 65, § 24. R.S. 60, § 24. 1818, p. 77.

27 V.S.A. § 305. Conveyances effected through power of attorney

A deed or other conveyance of lands or of an estate or interest therein, made by virtue of a power of attorney, shall not be of any effect or admissible in evidence, unless such power of attorney is signed, witnessed by one or more witnesses, acknowledged and recorded in the office where such deed is required to be recorded.
(Amended 1973, No. 211 (Adj. Sess.); 1995, No. 6, § 1, eff. March 15, 1995.)
Source. V.S. 1947, § 2652. P.L. § 2600. G.L. § 2747. P.S. § 2585. V.S. § 2221. R.L. § 1935. G.S. 65, § 24. R.S. 60, § 24. 1818, p. 78.

27 V.S.A. § 306. Evidence

When a deed is made by virtue of a power of attorney thus executed and recorded, a certified copy of the record of such power of attorney may be read in evidence when the original cannot be produced.
Source. V.S. 1947, § 2653. P.L. § 2601. G.L. § 2748. P.S. § 2586. V.S. § 2222. R.L. § 1936. G.S. 65, § 25. R.S. 60, § 25.

27 V.S.A. § 307. Vendor's liens

The vendor of real estate shall not have a lien thereon for unpaid purchase money, except such lien as is created and evidenced by deed executed, acknowledged and recorded as deeds of conveyance of real estate.
Source. V.S. 1947, § 2654. P.L. § 2602. G.L. § 2749. P.S. § 2587. V.S. § 2223. R.L. § 1937. G.S. 65, § 33. 1851, No. 47.

VERMONT STATUTES
TITLE TWENTY-SEVEN PROPERTY
CHAPTER 5: CONVEYANCE OF REAL ESTATE
SUBCHAPTER 2. EXECUTION AND ACKNOWLEDGMENT
ARTICLE 1. REQUIREMENTS

27 V.S.A. § 341. Requirements generally; recording

(a) Deeds and other conveyances of lands, or of an estate or interest therein, shall be signed by the party granting the same and acknowledged by the grantor before a town clerk, notary public, master, county clerk, or judge or register of probate and recorded at length in the clerk's office of the town in which such lands lie. Such acknowledgment before a notary public shall be valid without an official seal being affixed to his or her signature.

(b) A deed or other conveyance of land which includes a reference to a survey prepared or revised after July 1, 1988 may be recorded only if it is accompanied by the survey to which it refers, or cites the volume and page in the land records showing where the survey has previously been recorded.

(c) A lease of real property that has a term of more than one year from the making of the lease need not be recorded at length if a notice or memorandum of lease, which is executed, witnessed and acknowledged as provided in subsection (a) of this section, is recorded in the land records of the town in which the leased property is situated. The notice of lease shall contain at least the following information:

(1) the names of the parties to the lease as set forth in the lease;

(2) a statement of the rights of a party to extend or renew the lease;

(3) any addresses set forth in the lease as those of the parties;

(4) the date of the execution of the lease;

(5) the term of the lease, the date of commencement, and the date of termination;

(6) a description of the real property as set forth in the lease;

(7) a statement of the rights of a party to purchase the real property or exercise a right of first refusal with respect thereto;

(8) a statement of any restrictions on assignment of the lease; and

(9) the location of an original lease.
(Amended 1967, No. 231 (Adj. Sess.), § 1, eff. Jan. 24, 1968; 1973, No. 249 (Adj. Sess.), § 84, eff. April 9, 1974; 1987, No. 220 (Adj. Sess.); 1993, No. 174 (Adj. Sess.), § 1; 1997, No. 86 (Adj. Sess.), § 1; 2003, No. 150 (Adj. Sess.), § 5.)

27 V.S.A. § 342. Acknowledgment and recording required

A deed of bargain and sale, a mortgage or other conveyance of land in fee simple or for term of life, or a lease for more than one year from the making thereof shall not be effectual to hold such lands against any person but the grantor and his heirs, unless the deed or other conveyance is acknowledged and recorded as provided in this chapter.
Source. V.S. 1947, § 2648. P.L. § 2596. G.L. § 2743. P.S. § 2581. V.S. § 2217. R.L. § 1931. G.S. 65, § 7. R.S. 60, § 6. R. 1797, p. 305, § 5. R. 1787, p. 33.

27 V.S.A. § 343. Conveyance of wife's real estate

A husband and wife, by their joint deed, may convey the real estate of the wife as she might do by her separate deed if unmarried.
Source. V.S. 1947, § 2639. P.L. § 2588. G.L. § 2735. P.S. § 2573. V.S. § 2209. R.L. § 1923. G.S. 65, § 2. R.S. 60, § 2. R. 1797, p. 312, § 12. R. 1787, p. 36.

27 V.S.A. § 344. Conveyances of joint interests when husband under disability

The wife of a man under guardianship may join with the guardian in making partition of her real estate held in joint tenancy or in common and, with the guardian, may jointly make a release or other conveyance for that purpose, as she might have done with her husband if he had not been under legal disability.
Source. V.S. 1947, § 2640. P.L. § 2589. G.L. § 2736. P.S. § 2574. V.S. § 2210. R.L. § 1924. G.S. 71, § 7. R.S. 64, § 7. 1831, No. 7.

27 V.S.A. § 345. Conveyances of wife's realty in which disabled husband has an interest

When the guardian of a married man is licensed to sell the interests of the ward in any real estate of his wife, the wife may join with the guardian in the conveyance and convey her estate and interest in the granted premises as she might have done with her husband if he had not been under legal disability, but this section shall not authorize the conveyance of the ward's estate of homestead.
Source. V.S. 1947, § 2641. P.L. § 2590. G.L. § 2737. P.S. § 2575. V.S. § 2211. R.L. § 1925. 1872, No. 40.

27 V.S.A. § 346. Conveyances by corporation

A public or private corporation authorized to hold real estate may convey the same by an agent appointed by vote for that purpose.
Source. V.S. 1947, § 2642. P.L. § 2591. G.L. § 2738. P.S. § 2576. V.S. § 2212. R.L. § 1926. G.S. 65, § 3. R.S. 60, § 3. 1815, p. 28 § 3.

27 V.S.A. § 347. Validity of deeds executed under prior law

Deeds of bargain and sale, mortgages or other conveyances of real estate, heretofore made and executed according to former laws and usages in this state, shall be valid and effectual.
Source. V.S. 1947, § 2644. P.L. § 2593. G.L. § 2740. P.S. § 2578. V.S. § 2214. R.L. § 1928. G.S. 65, § 32. R.S. 60, § 32. R. 1797, p. 311, § 10.

27 V.S.A. § 348. Instruments concerning real property lacking statement of consideration, or witnesses or acknowledgments, validated

When an instrument of writing shall have been on record in the office of the clerk in the proper town for a period of fifteen years, and there is a defect in the instrument because it omitted to state any consideration therefor or was not sealed, witnessed, acknowledged, validly acknowledged, or because a license to sell was not validly issued, the instrument shall, from and after the expiration of fifteen years from the filing thereof for record, be valid. Nothing herein shall be construed to affect any rights acquired by grantees, assignees or encumbrancers under the instruments described in the preceding sentence, nor shall this section apply to conveyances or other instruments of writing, the validity of which is brought in question in any suit now pending in any courts of the state.
(Added 1977, No. 79, § 1, eff. April 27, 1977.)

27 V.S.A. § 349. Conveyance to grantor and others

(a) Without an intervening conveyance a person may convey interests in real estate directly:

(1) to himself in a different legal capacity, or

(2) to his spouse, or

(3) to himself and one or more other persons, including his spouse. A person shall not convey an interest in a tenancy by the entirety or in homestead property to any person except his spouse, unless the spouse joins in the conveyance.

(b) A conveyance made pursuant to this section shall be effective to convey such title as would be conveyed by the deed if the grantor were not also a grantee.
(Added 1977, No. 134 (Adj. Sess.); amended 1979, No. 160 (Adj. Sess.), § 1, eff. April 26, 1980.)

27 V.S.A. § 350. Change in name or status of owner of real estate

Any person or corporation owning real estate or having an interest in real estate whose name has been changed, and any corporation which has been merged into or consolidated with another, may file with the town clerk of the town in which the real estate is located a certificate giving the names before and after the change, merger or consolidation, and the town clerk shall record and index the certificate in the land records.
(Added 1993, No. 174 (Adj. Sess.), § 3.)

27 V.S.A. § 351. Estates and trusts; conveyances, satisfactions, grants, and releases

(a) A conveyance or grant of an interest in real or personal property made to the estate of a decedent, to the estate of a ward, to the ward's guardian, or to a trust, including a trust in the form of a pension or profit-sharing plan, that names the estate, the guardian, or the trust as the grantee of the interest is a valid and effective conveyance or grant to the personal representative, to the ward, or to the trustee of the trust, in like manner and effect as if the ward, or the personal representative or trustee in his or her fiduciary capacity, had been named the grantee of the conveyance or grant.

(b) A discharge, mortgage discharge, release, conveyance, grant, or satisfaction of an interest in real or personal property that is made by an estate, a guardian, or a trust described in subsection (a) of this section, that names the estate, the guardian, or the trust as the holder or grantor of the interest, and that is executed by the personal representative or trustee authorized to execute the instrument is valid in like manner and effect as if the personal representative, guardian, or trustee had been named the holder or the grantor in the instrument.
(Added 2003, No. 150 (Adj. Sess.), § 3.)

27 V.S.A. § 352. Certificate of trust

(a) The settlor or trustee of a trust, at any time after execution or creation of a trust, may execute a certificate of trust that sets forth less than all of the provisions of a trust instrument and any amendments to the instrument. The certificate of trust may be used as evidence of authority to sell, convey, pledge, mortgage, lease, or transfer title to any interest in real or personal property. The certificate of trust shall be upon the representation of the settlors, grantors, or trustees that the statements contained in the certificate of trust are true and correct. The signature of the grantors or trustees must be under oath before a notary public or other official authorized to administer oaths. The certificate of trust must include:

(1) the name of the trust, if one is given;

(2) the date of the trust instrument;

(3) the name of each grantor or settlor;

(4) the name of each original trustee;

(5) the name and address of each trustee empowered to act under the trust instrument at the time of execution of the certificate;

(6) an abstract of the provisions of the trust instrument authorizing the trustee to act in the manner contemplated by the instrument;

(7) a statement that the trust instrument has not been revoked or amended as to the authorizing provisions;

(8) a statement that no provisions of the trust instrument limit the authority so granted; and

(9) a statement as to whether the trust is supervised by any court and, if so, a statement that all necessary approval has been obtained for the trustees to act.

(b) A certificate of trust executed under subsection (a) of this section may be recorded in the land records of the municipality where the land identified in the certificate of trust or any attachment to it is situated. When it is so recorded or filed for recording, or in the case of personal property, when it is presented to a third party, the certificate of trust serves to document the existence of the trust, the identity of the trustees, the powers of the trustees and any limitations on those powers, and other matters set forth in the certificate of trust, as though the full trust instrument had been recorded, filed, or presented.

(c) A certificate of trust is conclusive proof as to the matters contained in it, and any party may rely upon the continued effectiveness of the certificate unless:

(1) a party dealing with the trustee or trustees has actual knowledge of facts to the contrary;

(2) the certificate is amended or revoked under subsection (d) of this section; or

(3) the full trust instrument is recorded, filed, or presented.

(d) Amendment or revocation of a certificate of trust may be made only by a written instrument executed by the settlor or trustee of a trust. Amendment or revocation of a certificate of trust is not effective as to a party unless that party has actual notice of the amendment or revocation. For purposes of this subsection, "actual notice" means that a written instrument of amendment or revocation has been received by the party or, in the case of real property, that either a written instrument of amendment or revocation has been received by the party or that a written instrument of amendment or revocation identifying the real property involved has been recorded in the municipal land records where the real property is situated.
(Added 2003, No. 150 (Adj. Sess.), § 4.)

VERMONT CASE LAW

In every executory contract for sale of land, there is an implied condition that vendor will transfer to vendee a title unencumbered with defect, unless contract is expressly to contrary. Drew v. Bowen, 102 Vt.124 (1929)

In a land sales contract where time is of the essence, the buyer cannot compel delivery of the deed of conveyance unless payment has been tendered in time. Where time is not of the essence, the buyer who tenders payment late may bring a suit in equity, depending on the reasonableness of the delay, to compel delivery. Mouat v. Wolfe, 556 A.2d 99 (1989)

Home | Search Law Digest | Site Map | Customer Service 1-877-389-0141