2023 Vermont Statutes
Title 27 - Property
Chapter 5 - Conveyance of Real Estate
§ 469. Mortgagee corporation whose charter has expired
§ 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.)
