2012 Vermont Statutes
Title 12 Court Procedure
Chapter 123 ATTACHMENT OF PROPERTY
§ 3358 Subrogation of purchaser
§ 3358. Subrogation of purchaser
When a mortgagor, pledgor or conditional vendee of property sold on execution under the provisions of this subchapter fails or refuses to discharge such lien after it becomes due and payable, and within ten days after written notice so to do is served upon him by the purchaser of the whole or part thereof, the person so purchasing may tender and pay to the holder of such mortgage, pledge or lien, or the conditional vendor, the amount due such creditor upon the whole of such property. Upon such tender or payment, such purchaser shall be subrogated to all the rights of such original mortgagee, pledgee or conditional vendor, and may hold the same as security for the amount so paid in discharge of such original claim, together with the sum paid by him on the execution sale, with interest upon such sums. He shall have the same benefit of foreclosure, sale and disposition of such property that the original mortgagee, pledgee or conditional vendor would have had under his claim.
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