Terms Used In Vermont Statutes > Title 12 > Chapter 172 > Subchapter 2 - Strict Foreclosure

• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
• Lien: A claim against real or personal property in satisfaction of a debt.
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Mortgagee: The person to whom property is mortgaged and who has loaned the money.
• Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
• Person: shall include any natural person, corporation, municipality, the State of Vermont or any department, agency, or subdivision of the State, and any partnership, unincorporated association, or other legal entity. See
• Plaintiff: The person who files the complaint in a civil lawsuit.
• Value: means market value less all reasonable expenses that would be incurred in selling the property. See
• Writ: A formal written command, issued from the court, requiring the performance of a specific act.