Vermont Statutes Title 27 Sec. 467
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Terms Used In Vermont Statutes Title 27 Sec. 467
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- 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.
- Trustee: A person or institution holding and administering property in trust.
§ 467. When death of mortgagee not established
In case the death of a mortgagee or assignee is not established, and the court would have jurisdiction to proceed under 14 V.S.A. §§ 2305 and 2306, the court, upon like petition, hearing and proof, may appoint a trustee to discharge such mortgage.