Ask a legal question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

Terms Used In Vermont Statutes Title 27 Sec. 103

  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • real estate: shall include lands, tenements, and hereditaments and all rights thereto and interests therein, and pews or slips in places of public worship shall be treated as real estate. See

§ 103. When real estate mortgaged

At the time of such levy of execution, if the homestead or real estate is encumbered by mortgage, the value and location of the homestead shall be fixed as provided in section 102 of this title and the sale shall proceed in the same manner as when a right to redeem mortgaged lands is taken. Only the portion of the mortgage as is in excess of the value of the real estate, aside from the homestead, shall rest on the homestead. (Amended 2023, No. 6, § 315, eff. July 1, 2023.)