Vermont Statutes Title 27 Sec. 408
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Terms Used In Vermont Statutes Title 27 Sec. 408
- Lien: A claim against real or personal property in satisfaction of a debt.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Town: shall include city and wards or precincts therein; "selectboard members" and "board of civil authority" shall extend to and include the mayor and aldermen of cities; "trustees" shall extend to and include bailiffs of incorporated villages; and the laws applicable to the inhabitants and officers of towns shall be applicable to the inhabitants and similar officers of all municipal corporations. See
§ 408. Recording subordination of liens
An agreement for the subordination of a prior lien or other encumbrance on real property shall be recorded in the land records of the town in which the property is situated, and a reference to the record of the subordination agreement shall be noted on the margin of the record of the instrument affected by the agreement. If not so recorded, the agreement shall bind only the parties to the agreement. (Amended 2023, No. 6, § 331, eff. July 1, 2023.)