2005 Vermont Code - § 464a. — Discharge by licensed attorney

§ 464a. Discharge by licensed attorney

(a) A recorded mortgage on a dwelling of two units or less occupied by the owner as the owner's principal residence or on farmland may be discharged by an attorney-at-law licensed to practice in this state if the mortgagee, after receipt of payment of the mortgage in accordance with the payoff statement furnished to the mortgagor by the mortgagee, or the mortgagee's agent, fails to make that discharge of the mortgage. The attorney shall execute and record an affidavit in the record of deeds affirming that:

(1) the affiant is an attorney-at-law in good standing and licensed to practice in Vermont;

(2) the affidavit is made at the request of the mortgagor or the mortgagor's executor, administrator, successor, assignee or transferee or the transferee's mortgagee;

(3) the mortgagee has provided a payoff statement with respect to the loan secured by the mortgage;

(4) the mortgagee has received payment of the mortgage in accordance with the payoff statement that has been proved by a bank check, certified check or attorney client funds account check negotiated by the mortgagee or by evidence of receipt of payment by the mortgagee;

(5) more than 30 days have elapsed since the payment was received by the mortgagee; and

(6) the mortgagee has received written notification by certified mail 15 days in advance, sent to the mortgagee's last known address, that the affiant intends to execute and record an affidavit in accordance with this section, enclosing a copy of the proposed affidavit; the mortgagee has not delivered a discharge or acknowledgment of satisfaction in response to the notification; and the mortgagee has failed to dispute payoff of the mortgage.

(b) The affidavit must include the names and addresses of the mortgagor and the mortgagee, the date of the mortgage, the book and page number and similar information with respect to the most recent recorded assignment of the mortgage.

(c) The affiant shall attach to the affidavit the following, certifying that each copy is a true copy of the original document:

(1) photocopies of the documentary evidence that payment has been received by the mortgagee, including the mortgagee's endorsement of a check; and

(2) a photocopy of the payoff statement.

(d) An affidavit recorded under this section has the same effect as discharge under sections 431, 462 or 463 of this title. (Added 1995, No. 162 (Adj. Sess.), § 38, eff. Jan. 1, 1997.)