TD Bank, N.A.

On March 4, 2019 the Head of Commercial Lending Services for TD Bank mailed a letter  to TD settlement agents for the purpose of informing them that "the Agent Agreement between you and TD Bank is being terminated per the enclosed notice".  

According to the letter, TD opted for a "reduction in the number of independent agents" effective 4/8/19 not because of poor performance but rather because TD is moving to a single point of business - a national vendor. TD thanked its long-time settlement agents for their years of loyalty and service and informed them that they could work with the national vendor. 

A copy of the letter is here . 
Notary Act (Simplified)

Remember that the full effect of the Notary Act does not kick in until 7/1/19. So, until then, nothing has changed except for commission expiration date which is now  1/31/21 .

After 7/1 we strongly recommend that everyone always use an ink stamp. We recommend putting "all available information" on your stamp including the last  7 digits of your Credential number. Andy Mikell's Credential Number is 157.0000773. Here is what Andy's stamp looks like:

Andrew D. Mikell
Notary Public - State of Vermont
Commission Expires: 1/31/2021
Commission #: 0000773
 
After 7/1/19, as far as acknowledgement of land record instruments go, Andy Mikell and Liz Smith believe that the version of the jurat in common use is just fine. It is really the same as the required Short Form Certificate. Use of the phrase "free act and deed" is fine but - if it's omitted - that's fine, too. There is leeway in the statute.
  Save The Date  

Mark your calendar now!  VATC will offer its very popular Last Call  For CLE at Capitol Plaza in Montpelier on June 11th . Stayed tuned  for registration information and a summary of the topics to be discussed.

*Please note that ETHICS credit will not be available this year. Plan accordingly.
Did you know that you can search our back titles online? Login to the  CATIC  website, c lick on Agents, Agent Home, search for back title. 

 If you search for back title and can only view the first page, please email the policy number to Jayne or Lau and they will gladly email the entire policy to your attention. 

Back title is available as a courtesy to our members and we expect that it will only be used to issue a new CATIC policy. 

Access Issues
CATIC has recently reported an increase in the number of Vermont claims relating to access. Access issues arise in one of two  forms: 

1. The Owner/Insured believes that their land is not burdened by a neighboring parcel which asserts rights in the Insured premises; or 
2. The Owner/Insured is denied access by a neighboring owner who asserts that their land is not burdened by Owner/Insured's purported easement.
What can you do to reduce/avoid access issues for your clients?

When conducting a title search, determine whether the searched property has public access over a municipal or state road (direct access). If so, that is sufficient.

If access is by indirect, e.g. by easement, determine whether access was properly granted or reserved and whether the access easement is appurtenant to the property you are searching. If the easement was granted, you will need to conduct a 40 year title search on the servient estate(s) affected by the easement! 

Also, be sure to carefully review all recorded plats and easements to determine whether the subject property might be burdened by any easements for access. Fully disclose the same to your client including whether or not there is a recorded maintenance agreement.

Finally, if you determine that the subject property is burdened by an any easement, including an easement for access, be sure to disclose that the easement(s) of record will/may have an impact on where your client can locate any planned improvements.

Please call Andy or Liz with any questions related to access.