Bulletin: VT2019002

Date:
July 11, 2019
To:
All Vermont Issuing Offices
RE:
LEGISLATIVE UPDATE - New Recording Information & Search Fees

Dear Associates:

This legislative update briefly outlines new recording and search fees. The full text of H.526 can be viewed at www.leg.state.vt.us.

H.526 An act relating to town clerk recording fees and town restoration and preservation reserve funds.

Section 2 – Increases in recording fees.

32 V.S.A. § 1671 is amended to increase recording fees to $15.00/page (up from $10/page).  This includes deeds, mortgages, and any other documents that are to become a matter of public record in the Town Clerk’s office.

Title examination fees are increased to $4.00/hour (up from $2.00/hour).

For Survey Plats filed in accordance with 27 V.S.A. Chapter 17, recording fees increase to $25.00 per 11 x 17 inch sheet; $25.00 per 18 x 24 inch sheet, and $25.00 per 24 x 36 inch sheet (up from $15/sheet).  In addition, a digital copy of the Plat is required to be submitted to the Vermont Center for Geographic Information in accordance with 27 V.S.A. § 1401 (b).

Section 7 – Town Clerks must pay to return recorded documents.

24 V.S.A § 1154a is added to read:

Whenever an instrument listed in section 1154 of this chapter is filed or left for record with the town clerk, the town shall bear the costs of returning the original copy of the instrument to the person who filed or left the instrument for record.

Section 9 – When an instrument is recorded and available for inspection.

24 V.S.A. § 1159 is amended to read:

(a) An instrument shall be deemed recorded when the town clerk:

(1) receives the instrument, the recording fee provided in 32 V.S.A. § 1671, and all supporting documents required by statute; and 

(2) indorses a certificate of the date and time of reception on the instrument.

(b) Within three days following the date an instrument is indorsed, the clerk shall enter the name or names of the parties, the type of instrument, the date of the instrument, and the date and time of recording in a day book printed index, or digital index that is open to public inspection.  A town clerk may extend the time for entering the information for good cause shown, including reasons related to illness or absence of the clerk. 

Effective Date:  Each of these sections shall take effect on July 1, 2019. 

If you have any questions relating to this or other bulletins, please contact a Stewart Title Guaranty Company underwriter.

For on-line viewing of this and other bulletins, please log onto www.vuwriter.com.

THIS BULLETIN IS FURNISHED TO INFORM YOU OF CURRENT DEVELOPMENTS. AS A REMINDER, YOU ARE CHARGED WITH KNOWLEDGE OF THE CONTENT ON VIRTUAL UNDERWRITER  AS IT EXISTS FROM TIME TO TIME AS IT APPLIES TO YOU, AS WELL AS ANY OTHER INSTRUCTIONS. OUR UNDERWRITING AGREEMENTS DO NOT AUTHORIZE OUR ISSUING AGENTS TO ENGAGE IN SETTLEMENTS OR CLOSINGS ON BEHALF OF STEWART TITLE GUARANTY COMPANY. THIS BULLETIN IS NOT INTENDED TO DIRECT YOUR ESCROW OR SETTLEMENT PRACTICES OR TO CHANGE PROVISIONS OF APPLICABLE UNDERWRITING AGREEMENTS. CONFIDENTIAL, PROPRIETARY, OR NONPUBLIC PERSONAL INFORMATION SHOULD NEVER BE SHARED OR DISSEMINATED EXCEPT AS ALLOWED BY LAW. IF APPLICABLE STATE LAW OR REGULATION IMPOSES ADDITIONAL REQUIREMENTS, YOU SHOULD CONTINUE TO COMPLY WITH THOSE REQUIREMENTS.

References

Bulletins Replaced:
None
Related Bulletins:
None
Underwriting Manual:
None
Exceptions Manual:
None
Forms:
None