Vermont Statutes Title 27 Sec. 468
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Terms Used In Vermont Statutes Title 27 Sec. 468
- 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.
§ 468. When death of mortgagee not established
The mortgage may be discharged by the administrator or trustee in the manner provided by law for the discharge of a mortgage by a mortgagee. The discharge shall have the same effect as though made by the mortgagee or assignee when living. An administrator or trustee appointed for such purpose shall have no authority relative to the estate of which the administrator or trustee is appointed, other than as provided in this section. The judge, in the judge’s discretion, may require the administrator or trustee to give bonds as in the judge’s opinion the circumstances of the case require. (Amended 2023, No. 6, § 337, eff. July 1, 2023.)