2014 Vermont Statutes
Title 14 - Decedents' Estates and Fiduciary Relations
Chapter 75 - LICENSE TO SELL AND CONVEY REAL AND PERSONAL PROPERTY
Subchapter 2: LICENSES TO SELL-PROCEDURE
§ 1662 Sale of encumbered property of deceased
§ 1662. Sale of encumbered property of deceased
The real or personal estate of a deceased person, which is mortgaged or pledged or has a lien thereon for the security of a debt, on motion of the executor, administrator or creditor, may be sold under the order of the probate division of the superior court. The net proceeds shall be applied towards the payment of the secured debt which shall be reduced by the amount of the net proceeds of such sale. An executor or administrator may be licensed or ordered to sell any such real or personal estate under the same regulations as are provided in this chapter for the sale of real estate for the payment of debts. (Amended 1985, No. 144 (Adj. Sess.), § 81; 2009, No. 154 (Adj. Sess.), § 238a, eff. Feb. 1, 2011.)
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