Although a title examiner is not obligated to make a physical inspection of the property being searched, knowledge of the rights of parties in actual or constructive possession may affect the title of subsequent parties in the chain of title who have actual notice or are put on inquiry notice of the existence of such rights.
Comment 1. The Marketable Record Title Act may terminate rights derived from possession if the appropriate notices pursuant to the Marketable Record Title Act are not timely filed. Gray v. Tredor et al., 2018 VT 137, 204 A.3d 1117 (2018).
Comment 2. Residential rental property and landlord-tenant rights and obligations are subject to 9 V.S.A. Ch. 137.
Comment 3. Examples of knowledge that may come to the title examiner’s attention are: (a) the existence of an assignment of leases or a collateral assignment of leases and rents found in the chain of title under the name of a current or prior owner; or (b) other information acquired by the title examiner outside of the land records.
History
September 2022: Standard and comments were added.