Vermont Assignment of Mortgage (Two Individuals)

Two people who hold a recorded Vermont mortgage together, often a couple who financed the sale of their own property, transfer that mortgage to a new holder with a single recorded assignment. This Vermont assignment of mortgage form is set up for exactly two individual assignors and one assignee: both holders sign, each before a notary, and the completed instrument is recorded with the clerk of the town or city where the land lies.

Two holders, two signatures, one recorded transfer

The form recites two natural persons as the present holders of the mortgage and carries a signature block and an acknowledgment certificate for each of them, so the two assignors may sign on different dates, before different notaries, or in different states. The pattern appears throughout Vermont's town land records: spouses who sold a home and took back seller financing, family members who together made a private loan secured by land, and two co-lenders of record transferring the loan to a purchaser of the debt. The form recites exactly two individual assignors; an entity holder such as a bank or limited liability company, and a mortgage held by one person alone, present different configurations from the one this form recites.

What the assignment moves, and what it leaves alone

For value received, the assignors grant, assign, transfer, and set over to the assignee the mortgage, the promissory note or other obligation it secures, and the money due and to become due with interest. Vermont is a title theory state, where a mortgage carries legal title as security, so the operative language reaches the assignors' right, title, and interest in the mortgaged premises under the mortgage as well. The borrowers' ownership of the land, the amount owed, and the payment terms are untouched; what changes is who holds the lender's side of the loan of record and, with it, who gives the discharge when the loan is paid. Under 27 V.S.A. § 464, a mortgagee of record delivering a discharge also delivers any instrument necessary to establish record ownership of the mortgage, which is exactly what a recorded chain of mortgage assignments supplies.

Recorded in the town, not the county

Vermont statute addresses this instrument by name: under 24 V.S.A. § 1158, an assignment of a mortgage shall be duly recorded in the records of the town, and the clerk cross-references it on the margin of the mortgage record. Vermont has no county recording system for land instruments, so the assignment goes to the clerk of the town or city where the land lies, the same office that holds the mortgage. The statewide fee is $15.00 per page, no property transfer tax return accompanies a mortgage assignment, and the form identifies the mortgage the way the clerk's index does: the mortgagors, the mortgage date, the original principal amount, and the book and page where the mortgage is recorded, with a blank for any prior recorded assignments so the chain of title to the mortgage reads unbroken.

Built for Vermont execution rules

Both assignors acknowledge their signatures before a notary public, the execution formality 27 V.S.A. § 341 states for conveyances of an interest in land, and printed name lines under the signatures answer the name-under-signature rule of 32 V.S.A. § 1405. The first page reserves space at the top for the clerk's recording information, and the body text sits well above the eight point statutory minimum for recorded matter.

The package delivers the assignment of mortgage as a fillable PDF, a completed example showing the entire document filled in for a realistic Chittenden County fact pattern, and a plain language guide that walks through every numbered section, from identifying the recorded mortgage to the notary certificates. The materials describe Vermont law in general terms and are not legal advice.