Vermont Statutes Title 12 Sec. 3151
Terms Used In Vermont Statutes Title 12 Sec. 3151
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Plaintiff: The person who files the complaint in a civil lawsuit.
- Trustee: A person or institution holding and administering property in trust.
- Writ: A formal written command, issued from the court, requiring the performance of a specific act.
§ 3151. Trustee may file bond and sell property
When such action is pending in the Supreme or Superior Court, the trustee may sell the property, and the purchaser shall hold the same released from the mortgage and attachment, if such trustee files with the clerk of the court:
(1) a bond to the plaintiff in a sum equal to the amount for which attachment is directed in the writ, with sufficient sureties, approved by such clerk or judge, conditioned that such trustee will pay the judgment rendered against him or her in the action; and
(2) a bond to the defendant in a penal sum double the amount of the mortgage debt, with sureties approved as aforesaid, conditioned that he or she will pay the balance due upon the mortgage after paying such judgment and that, if discharged as trustee, he or she will pay the amount secured by the mortgage. (Amended 1965, No. 194, § 10, eff. July 1, 1965, operative Feb. 1, 1967; 1973, No. 193 (Adj. Sess.), § 3, eff. April 9, 1974; 2009, No. 154 (Adj. Sess.), § 79.)