Vermont Statutes Title 27 Sec. 463
Terms Used In Vermont Statutes Title 27 Sec. 463
- Executor: A male person named in a will to carry out the decedent
- following: when used by way of reference to a section of the law shall mean the next preceding or following section. See
- 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.
- Town: shall include city and wards or precincts therein; "selectboard members" and "board of civil authority" shall extend to and include the mayor and aldermen of cities; "trustees" shall extend to and include bailiffs of incorporated villages; and the laws applicable to the inhabitants and officers of towns shall be applicable to the inhabitants and similar officers of all municipal corporations. See
§ 463. By separate instrument
(a) Mortgages may be discharged by an acknowledgment of satisfaction, executed by the mortgagee or his or her attorney, executor, administrator, or assigns, which shall be substantially in the following form:
I hereby certify that the following described mortgage is paid in full and satisfied, viz: ________ mortgagor to ________ mortgagee, dated ________ 20__ , and recorded in book ___ , page ___ , of the land records of the town of ____________________ .
(b) When such satisfaction is acknowledged before a notary public and recorded, it shall discharge such mortgage and bar actions brought thereon. (Amended 1973, No. 47, § 2, eff. April 12, 1973; 2003, No. 150 (Adj. Sess.), § 6; 2017, No. 28, § 6, eff. May 10, 2017; 2017, No. 160 (Adj. Sess.), § 4, eff. July 1, 2019.)