Vermont § 3826 Release of security interest

Vermont Statutes

§ 3826 — Release of security interest

Vermont § 3826

Title 23Title 23: Motor Vehicles

Ch. 36Chapter 036: Titling of Vessels, Snowmobiles, and All-Terrain Vehicles

This text of Vermont § 3826 (Release of security interest) is published on Counsel Stack Legal Research, covering Vermont primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Vt. Stat. Ann. tit. 23, § 3826 (2026).

Text

(a)Upon the satisfaction of a security interest in a vessel, snowmobile, or all-terrain vehicle for which the certificate of title is in the possession of the lienholder, he or she shall, within 10 days after demand and, in any event, within 30 days, execute a release of his or her security interest, in the space provided on the certificate or as the Commissioner prescribes, and mail or deliver the certificate and release to the next lienholder named, or, if none, to the owner or any person who delivers to the lienholder an authorization from the owner to receive the certificate. The owner, other than a dealer holding the vessel, snowmobile, or all-terrain vehicle for resale, shall promptly cause the certificate and release to be mailed or delivered to the Commissioner, who shall release

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(a) Upon the satisfaction of a security interest in a vessel, snowmobile, or all-terrain vehicle for which the certificate of title is in the possession of the lienholder, he or she shall, within 10 days after demand and, in any event, within 30 days, execute a release of his or her security interest, in the space provided on the certificate or as the Commissioner prescribes, and mail or deliver the certificate and release to the next lienholder named, or, if none, to the owner or any person who delivers to the lienholder an authorization from the owner to receive the certificate. The owner, other than a dealer holding the vessel, snowmobile, or all-terrain vehicle for resale, shall promptly cause the certificate and release to be mailed or delivered to the Commissioner, who shall release the lienholder’s rights on the certificate or issue a new certificate.
(b) Upon the satisfaction of a security interest in a vessel, snowmobile, or all-terrain vehicle for which the certificate of title is in the possession of a prior lienholder, the lienholder whose security interest is satisfied shall within 10 days after demand and, in any event, within 30 days execute a release in the form the Commissioner prescribes and deliver the release to the owner or any person who delivers to the lienholder an authorization from the owner to receive it. The lienholder in possession of the certificate of title shall either deliver the certificate to the owner, or the person authorized by him or her, for delivery to the Commissioner or, upon receipt of the release, mail or deliver it with the certificate to the Commissioner, who shall release the subordinate lienholder’s rights on the certificate or issue a new certificate. (Added 1987, No. 152 (Adj. Sess.), § 1; amended 2001, No. 107 (Adj. Sess.), § 22.)