Grand Isle County Assignment of Mortgage (Entity) Form

This fillable Vermont assignment of mortgage is drawn for an assignor that is an entity: a corporation, limited liability company, bank, or credit union transferring a recorded mortgage to a new holder. One authorized representative signs for the organization, and the notary certificate is completed in a representative capacity, the configuration an entity-held loan presents when it changes hands.

One signature, made for the company

The execution section carries the entity's name, a signature line for the authorized representative, and printed name, title, and date lines beneath it. The printed name line answers 32 V.S.A. Section 1405, which lets the recording official ask for typed, stamped, or printed names under signatures and attach a small additional fee when an instrument omits them. The operative section states that the signer is authorized to execute and deliver the assignment for the assignor, and the acknowledgment certificate is arranged for a representative signer, in the style of Vermont's short form certificate for an acknowledgment in a representative capacity under 26 V.S.A. Section 5368. Vermont law places the acknowledgment before a notary public at the center of the formality; no subscribing witnesses appear in the execution statutes for an ordinary conveyance.

Recorded with the town clerk, not a county

Vermont keeps its land records town by town, so a mortgage assignment is recorded with the clerk of the town or city where the mortgaged land lies. The statute on point is direct: 24 V.S.A. Section 1158 provides that an assignment or discharge of a mortgage shall be duly recorded in the records of the town, and it calls for marginal cross-references between the assignment and the book and page of the mortgage record. The form collects exactly that identifying data, the book and page or document number of the recorded mortgage and the land records office where it appears, so the clerk can tie the two instruments together. The statewide recording fee is 15 dollars per page under 32 V.S.A. Section 1671, and a single document that assigns several mortgages draws a separate charge per affected instrument; this form is drawn for one mortgage. Vermont's property transfer tax return is not part of the package for a transfer of a mortgage interest, since the Department of Taxes return instructions exclude mortgage deeds and typical assignments from the return filing category.

What the assignment carries

The instrument identifies the mortgage being assigned by its mortgagors, its original mortgagee, its date, and its recording reference, then repeats the property's street address and the description as set forth in the mortgage. The operative section assigns, transfers, and sets over the mortgage together with the promissory note or other obligation it secures, the money due and to become due with interest, and the rights and remedies that run with the mortgage. The transfer is stated without recourse and without covenant or warranty except as the parties add in the special provisions section, which also holds any qualifying terms such as a partial assignment or agreed servicing language. A recorded assignment keeps the chain of mortgage ownership visible in the town records, which is what later discharge and payoff mechanics look to: Vermont's discharge statutes speak to the mortgagee or the mortgagee's assigns, and the recorded chain shows who that is.

Inside the download

The package contains the fillable assignment of mortgage form, a completed example showing a Vermont fact pattern entered field by field, and a guide that walks every section and describes the governing statutes, recording steps, and fees. The materials are informational and are not legal advice; a Vermont attorney can speak to how an assignment operates on a particular loan or chain of title.