Vermont Statutes Title 27 Sec. 469
Terms Used In Vermont Statutes Title 27 Sec. 469
- Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- 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.
- 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
- real estate: shall include lands, tenements, and hereditaments and all rights thereto and interests therein, and pews or slips in places of public worship shall be treated as real estate. See
- State: when applied to the different parts of the United States may apply to the District of Columbia and any territory and the Commonwealth of Puerto Rico. See
§ 469. Mortgagee corporation whose charter has expired
When it appears from the record of a mortgage on real estate that the mortgage is undischarged, and the mortgagee, or the assignee of the mortgage, is a private corporation whose charter has expired by its own limitation, or has been dissolved by operation of law, forfeiture, or for any other reason, a complaint may be brought to the presiding judge of the Superior court of the county where the mortgage is recorded and, after such hearing as the presiding judge may direct, if the judge is satisfied that the conditions of the mortgage have been complied with, and have no force in law, and is further satisfied that there is no person within the State having authority to discharge the mortgage, the judge may direct an order discharging the mortgage. The proceedings shall be without taxation of costs except that the moving party shall bear the costs of the notice as the presiding judge may order. (Amended 1973, No. 193 (Adj. Sess.), § 3, eff. April 9, 1974; 2023, No. 6, § 338, eff. July 1, 2023.)