Vermont Statutes Title 27 Sec. 462
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Terms Used In Vermont Statutes Title 27 Sec. 462
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Executor: A male person named in a will to carry out the decedent
- 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.
- Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
§ 462. By acknowledgment of payment
Mortgages may also be discharged by the mortgagee or by his or her executor, administrator, assignee, attorney at law, or attorney acting under a duly executed and recorded power of attorney, acknowledging payment thereof by an entry on the mortgage deed, signing the same in the presence of one or more witnesses, which entry, upon being recorded on the margin of the record of such mortgage in the record of deeds, shall discharge such mortgage and bar all actions brought thereon.