Vt. Stat. Ann. tit. 24, § 2806
Condemned land; notice to mortgagee; application of payment
Redline — July 1, 2021 → current.View current text →
Current — June 1, 2022
As of July 1, 2021
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.
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.
Official source: Vermont General Assembly. Reproduced from public-domain Vermont statutes; confirm against the official source for the current text. Not legal advice.