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2023 Vermont Statutes
Title 24 - Municipal and County Government
Chapter 77 - Construction; Condemnation
§ 2806. Condemned land; notice to mortgagee; application of payment
Universal Citation: 24 V.S.A. § 2806
§ 2806. Condemned land; notice to mortgagee; application of payment
When such lands are encumbered by mortgage, such municipality shall cause the same notice to be given to the mortgagee or assignee thereof as is required to be given to the owner, and the damages agreed upon or otherwise determined, as finally ascertained, shall be paid to the mortgagee or assignee. However, if the sum due on the mortgage is less than the damages awarded, the amount due on the mortgage shall be paid to the holder and the balance to the owner. (Amended 2017, No. 74, § 103.)
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