Vermont Statutes Title 14 Sec. 1413
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Terms Used In Vermont Statutes Title 14 Sec. 1413
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Decedent: A deceased person.
- Executor: A male person named in a will to carry out the decedent
- Executor: includes administrator with the will annexed. See
- 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
§ 1413. Debt as personalty; representative may foreclose mortgage
A debt secured by mortgage belonging to the estate of a deceased person as mortgagee or assignee of the right of a mortgagee, when the mortgage was not foreclosed in the lifetime of the deceased, shall be personal assets in the hands of the executor or administrator and administered and accounted for as such. The executor or administrator may foreclose the mortgage and take possession of the mortgaged premises as the decedent might have done in the decedent’s lifetime. (Amended 2017, No. 195 (Adj. Sess.), § 7.)