reglab/housing_qa huggingface dataset:
12 V.S.A. § 4931
2021 Vermont Statutes|Title 12 - Court Procedure|Chapter 172 - Foreclosure of Mortgages|§ 4931. Definitions

§ 4931. Definitions|As used in this chapter:  (1) "Agricultural activity" includes the growing, raising, and production of horticultural and silvicultural crops, grapes, berries, trees, fruit, poultry, livestock, grain, hay, and dairy products. (2) "Dwelling house" means a residential structure or mobile home which contains one to four family housing units, or individual units of condominiums or cooperatives, other than a time-share in a unit, each of which is used or intended to be used as a residence. For the purposes of this subdivision, "time-share" means a time-share estate as defined by 32 V.S.A. § 3619(a). (3) "Farmland" means land devoted primarily to commercial agricultural activities. (4) "Value" means market value less all reasonable expenses that would be incurred in selling the property. Market value for purposes of this section may be determined based on evidence of market value deemed by the court to be reasonably reliable, which may include grand list valuation and the common level of appraisal used in the town where the property is located, if the court finds such evidence to be reasonably reliable. (Added 2011, No. 102 (Adj. Sess.), § 1; amended 2013, No. 102 (Adj. Sess.), § 4.)
12 V.S.A. § 4932
2021 Vermont Statutes|Title 12 - Court Procedure|Chapter 172 - Foreclosure of Mortgages|§ 4932. Venue; joinder of parties; recording

§ 4932. Venue; joinder of parties; recording|(a) Actions to foreclose a mortgage under subchapter 2 or 3 of this chapter shall be brought in the Civil Division of the Superior Court for the county where the land lies, or, if the land described in the mortgage lies in more than one county, then in one of the counties in which the land lies.(b) The plaintiff shall file a copy of the complaint in the town clerk's office in each town where the mortgaged property is located. The clerk of the town shall minute on the margin of the record of the mortgage that a copy of foreclosure proceedings on the mortgage is filed. The filing shall be sufficient notice of the pendency of the action to all persons who acquire any interest or lien on the mortgaged premises between the dates of filing the copy of foreclosure and the recording of the final judgment in the proceedings. Without further notice or service, those persons shall be bound by the judgment entered in the cause and be foreclosed from all rights or equity in the premises as completely as though they had been parties in the original action.(c) If the mortgaged property is subject to a residential rental agreement, as defined in 9 V.S.A. § 4451:  (1) The plaintiff shall join as a party defendant any person occupying the mortgaged property pursuant to a residential rental agreement as of the date the copy of the complaint is recorded in the land records. Service of the complaint on the tenant shall be sufficient if mailed to the tenant by first class mail at the address specified in the rental agreement, if the agreement is recorded, or to the "occupant" at the address of the leased premises if the agreement is not recorded. (2) The summons and complaint served on any person occupying the premises pursuant to a residential rental agreement shall contain the following notice, written in at least 14-point type: THE PROPERTY IN WHICH YOU LIVE IS BEING FORECLOSED UPON. YOU ARE NAMED AS A DEFENDANT IN THE FORECLOSURE BECAUSE YOUR RIGHT TO REMAIN ON THE PREMISES MAY END WHEN THE FORECLOSURE IS COMPLETED. YOU MUST NOTIFY THE COURT OF YOUR NAME AND ADDRESS IN ORDER TO BE KEPT INFORMED OF THE STATUS OF THE FORECLOSURE. (3) Upon receipt of the complaint, the owner of the mortgaged property shall notify each tenant who enters into a residential rental agreement that the premises are the subject of a pending foreclosure action and that, in the event the owner is unable to redeem the premises, the tenant may be required to vacate the premises upon 30 days' notice, or upon such other notice as is required by federal law, whichever is longer. The failure of the owner to provide notice under this subsection shall not affect or invalidate the foreclosure action.   (d) All proceedings shall be before the Superior judge alone, and trial shall be without jury. (Added 2011, No. 102 (Adj. Sess.), § 1.)
12 V.S.A. § 4934
2021 Vermont Statutes|Title 12 - Court Procedure|Chapter 172 - Foreclosure of Mortgages|§ 4934. Supplemental judgment joining parties; recording

§ 4934. Supplemental judgment joining parties; recording|At any time, without further notice or service on the purchaser or mortgagor or lienholder whose interest in the property being foreclosed first arose after the filing of the complaint in the town clerk's office, and upon filing certified copies of the deed, mortgage, or attachment with the clerk of the court by the plaintiff in the foreclosure action, any Superior judge may sign a supplemental judgment specifically naming that party. Reference to the deed, mortgage, or lien and the supplemental judgment may be filed in the town clerk's office for record, and it shall have the same force and effect as though that person had been made a party defendant in the original action. (Added 2011, No. 102 (Adj. Sess.), § 1.)
12 V.S.A. § 4935
2021 Vermont Statutes|Title 12 - Court Procedure|Chapter 172 - Foreclosure of Mortgages|§ 4935. Taxes paid by mortgagee

§ 4935. Taxes paid by mortgagee|A tax assessed upon mortgaged real estate in this State may be paid by the mortgagee or assignee of the mortgage upon such property. The amount so paid, including costs, if any, shall thereupon be added to and become a part of the debt or obligation secured by such mortgage. (Added 2011, No. 102 (Adj. Sess.), § 1.)
12 V.S.A. § 4936
2021 Vermont Statutes|Title 12 - Court Procedure|Chapter 172 - Foreclosure of Mortgages|§ 4936. Foreclosure of real or personal property

§ 4936. Foreclosure of real or personal property|A mortgage or a security agreement constituting a lien on both real and personal property to secure the payment of a debt, whether evidenced by one or more instruments, may be foreclosed in an action under subchapter 2 or 3 of this chapter. (Added 2011, No. 102 (Adj. Sess.), § 1.)
12 V.S.A. § 4937
2021 Vermont Statutes|Title 12 - Court Procedure|Chapter 172 - Foreclosure of Mortgages|§ 4937. Attorney's fees

§ 4937. Attorney's fees|When a mortgage contains an agreement on the part of the mortgagor to pay the mortgagee, in the event of foreclosure, the attorney's fees incident thereto, and claim is made therefor in the complaint, upon hearing, the court in which the complaint is brought shall allow such fee as in its judgment is just. (Added 2011, No. 102 (Adj. Sess.), § 1.)
12 V.S.A. § 4938
2021 Vermont Statutes|Title 12 - Court Procedure|Chapter 172 - Foreclosure of Mortgages|§ 4938. Effect on bankruptcy proceedings

§ 4938. Effect on bankruptcy proceedings|Nothing in this chapter shall be construed to supersede any provision of Title 11 of the United States Code. (Added 2011, No. 102 (Adj. Sess.), § 1.)
12 V.S.A. § 4939
2021 Vermont Statutes|Title 12 - Court Procedure|Chapter 172 - Foreclosure of Mortgages|§ 4939. Appeals

§ 4939. Appeals|When a judgment is for the foreclosure of a mortgage, permission of the court shall be required for review. (Added 2011, No. 102 (Adj. Sess.), § 1.)
12 V.S.A. § 4945
2021 Vermont Statutes|Title 12 - Court Procedure|Chapter 172 - Foreclosure of Mortgages|§ 4945. Judicial sale foreclosure

§ 4945. Judicial sale foreclosure|(a) All liens and mortgages affecting real property may, on the written motion of any party to any suit for foreclosure of such liens or mortgages, or at the discretion of the court before which the foreclosure proceedings are pending, be foreclosed by a judicial foreclosure sale, even if the mortgage does not contain a sale provision instead of a strict foreclosure.(b) In an action for foreclosure, if a lien or interest in such realty is held by any person or federal agency which may not be foreclosed by strict foreclosure pursuant to federal law, a decree may be entered providing for such period of redemption as the court may determine, and providing for a sale of the mortgaged premises at the conclusion of such period if the premises are not redeemed, and for the time, manner, and notice of sale, if required, and the application of the proceeds therefrom. (Added 2011, No. 102 (Adj. Sess.), § 1.)
12 V.S.A. § 4947
2021 Vermont Statutes|Title 12 - Court Procedure|Chapter 172 - Foreclosure of Mortgages|§ 4947. Foreclosure of equity of redemption; recording

§ 4947. Foreclosure of equity of redemption; recording|(a) In an action for foreclosure under this subchapter where the time of redemption has expired, the party obtaining the foreclosure shall cause a certified copy of the judgment and the certificate of nonredemption to be recorded in the office where by law a deed of the lands is required to be recorded.(b) If the plaintiff complies with subsection (a) of this section, the expiration of the right of redemption under the decree shall foreclose the interest of subsequent purchasers, mortgagees, or attaching creditors whose interest in the property being foreclosed first arose after the filing of the complaint for foreclosure in the land records as provided in section 4932 of this chapter. (Added 2011, No. 102 (Adj. Sess.), § 1.)
12 V.S.A. § 4949
2021 Vermont Statutes|Title 12 - Court Procedure|Chapter 172 - Foreclosure of Mortgages|§ 4949. Mortgagor's redemption prior to judicial sale

§ 4949. Mortgagor's redemption prior to judicial sale|(a) The mortgagor is entitled to redeem the premises at any time prior to the public sale by paying the full amount due under the judgment order and such other amounts, including costs and expenses of sale, accruing postjudgment as agreed upon by the mortgagor and mortgagee or ordered by the court.(b) Upon agreement of the parties, the mortgagor may redeem the premises at any time prior to the public sale by paying less than the full amount due under the judgment order. In such case, the parties to the foreclosure shall, with court approval, amend the redemption amount. Upon payment of the amended redemption amount, the court shall issue a Supervening Certificate of Redemption as evidence that the judgment amount was redeemed. Upon the recording of a certified copy of the Supervening Certificate of Redemption in the land records, the foreclosed mortgage shall be of no further force or effect and any junior lienholder shall return to the position it held prior to the filing of the foreclosure.(c) The redemption right established by this section shall be in addition to the redemption right set forth in the decree. (Added 2011, No. 102 (Adj. Sess.), § 1.)
12 V.S.A. § 4951
2021 Vermont Statutes|Title 12 - Court Procedure|Chapter 172 - Foreclosure of Mortgages|§ 4951. Judgment vacated

§ 4951. Judgment vacated|Notwithstanding any provision to the contrary in this chapter or other law, the mortgagor and mortgagee may stipulate and move to vacate the judgment at any time prior to the public sale. If the court approves the motion, the judgment shall be vacated and all parties, the property, and any lienholders of record in the land records will be restored to their original positions as if no foreclosure had been commenced and no judgment entered. Notwithstanding any other provision of law, this section will apply retroactively and apply to orders to vacate in existence on July 1, 2012. (Added 2011, No. 102 (Adj. Sess.), § 1.)
12 V.S.A. § 4952
2021 Vermont Statutes|Title 12 - Court Procedure|Chapter 172 - Foreclosure of Mortgages|§ 4952. Sale procedures

§ 4952. Sale procedures|(a) Generally. If the mortgaged property is not redeemed, the plaintiff shall sell the mortgaged property in accordance with this section, complying with all court orders and applicable power of sale provisions.(b) Notice of sale; publication. Notice of sale shall be published once in each of three successive weeks in a newspaper of general circulation in the town where the land lies, the first publication to be no fewer than 21 days before the day of sale.(c) Notice of sale; service. A copy of the notice of sale shall be mailed by first class mail, postage prepaid, to all parties who appeared in the foreclosure action or to their attorneys of record. If the mortgagor has not appeared in the foreclosure action, a copy of the notice of sale shall also be mailed by first class mail, postage prepaid, to the mortgagor at the mortgagor's last known address. The notice of sale shall include the specific date, time, and location of the sale and shall be mailed after the last date of redemption in the decree but not fewer than 30 days before the date of the sale.(d) Notice of sale; waiver. Any party entitled to be sent notice under this section may, either before or after the foreclosure sale, waive the party's right to receive notice, in which case no foreclosure sale shall be invalid or ineffectual to foreclose that party's rights under the mortgage. This subsection shall not apply to farmland or to a dwelling house unless approved by the court at or before the confirmation of sale.(e) Notice of sale; form.  The following form of notice of sale may be used and may be altered as circumstances require, but nothing herein shall be construed to prevent the use of other forms:By virtue and in execution of the Power of Sale contained in a certain mortgage given by ____________ to ____________ and recorded in Volume ________  of the land records of the municipality of ____________, of which mortgage the undersigned is the present holder (if by assignment, or in any fiduciary capacity, give reference) for breach of the conditions of said mortgage and for the purpose of foreclosing the same will be sold at Public Auction at ____________ (place) at ________ o'clock, ________ M. on the ____________ day of ________, 20____ all and singular the premises described in said mortgage, (In case of partial releases, state exceptions.) To wit: (Legal description of the premises.) Terms of sale: (State here the amount, if any, to be paid in cash by the purchaser at the time of the sale, and the schedule for payment of the balance  and other terms of sale.) The mortgagor is entitled to redeem the premises at any time prior to the sale  by paying the full amount due under the mortgage, including the costs and expenses of the sale. Other terms to be announced at the sale or inquire at __________________ Signed: ____________  Mortgagee (may be signed by mortgagee's attorney)Dated: ____________, 20____.  (Added 2011, No. 102 (Adj. Sess.), § 1.)
12 V.S.A. § 4953
2021 Vermont Statutes|Title 12 - Court Procedure|Chapter 172 - Foreclosure of Mortgages|§ 4953. Conduct and location of sale

§ 4953. Conduct and location of sale|(a) Location. The sale shall be held at the mortgaged property unless another place for sale is directed by the court. At the sale, the mortgaged property shall be sold to the highest bidder in conformance with the terms of sale set forth in the notice of sale.(b) Adjournments. The public sale may be adjourned one or more times for a total time not exceeding 30 days, without further court order, and without publication or service of a new notice of sale, by announcement of the new sale date to those present at each adjournment or by posting notice of the adjournment in a conspicuous place at the location of the sale. Notice of the new sale date shall also be sent by first class mail, postage prepaid, to the mortgagor at the mortgagor's last known address at least five days before the new sale date. The public sale may be adjourned for a period of time in excess of 30 days by agreement of the mortgagor and mortgagee or by order of the court.(c) Permitted bidders. Any person may bid at the sale. All bidders, except for the mortgagee plaintiff or designee, shall meet the requirements set forth in the notice of sale in order to bid at the sale. (Added 2011, No. 102 (Adj. Sess.), § 1.)
12 V.S.A. § 4954
2021 Vermont Statutes|Title 12 - Court Procedure|Chapter 172 - Foreclosure of Mortgages|§ 4954. Procedure following sale

§ 4954. Procedure following sale|(a) Confirmation order. Following the sale, the plaintiff shall file with the court a report on oath of the sale, together with a request for confirmation of the sale, which shall include an accounting of the sale proceeds, and a proposed order confirming the sale. Copies of the report of the sale and request for confirmation shall be mailed by first class mail, postage prepaid, to all parties who appeared in the foreclosure action or to their attorneys of record and to the mortgagor at the mortgagor's last known address. The court may issue an order of confirmation of the sale without hearing, unless the court in its discretion determines that a hearing is necessary. The order of the court confirming the sale shall be conclusive evidence as against all persons that the foreclosure and sale were conducted in accordance with this section.(b) Transfer of title. The confirmation order shall be recorded in the land records of the town where the mortgaged property is located and shall transfer title to the mortgaged property to the purchaser upon recording.(c) Disbursement of proceeds. In the event that the proceeds of the sale, after first deducting the reasonable expenses incurred in making the sale, exceed the amounts due to the plaintiff at the time of sale, the confirmation order shall provide for the payment of the surplus to other lienholders of record in the order of the priority of their liens. In the event that the proceeds of the sale exceed the amount due to the plaintiff and the amount due to the other defendants, the excess shall be paid to the defendant mortgagor.(d) Deficiency. The plaintiff may request a deficiency judgment in the foreclosure complaint. The court may assess a judgment against the mortgagor for the deficiency if the proceeds of sale are insufficient to meet the expenses incurred in making the sale and the amount due to the plaintiff. If the plaintiff seeks a deficiency judgment, it shall be requested prior to issuance of the confirmation order. Failure to request a deficiency judgment shall be deemed a waiver of any deficiency judgment against a mortgagor.(e) Failure of sale; resale. In the event that the purchaser fails to pay the balance of the purchase price according to the terms of the sale, then, upon the request of the plaintiff, the down payment shall be forfeited and the court shall issue an order vacating the confirmation order. Upon motion and after hearing, the court may issue a confirmation order to the second highest bidder. (Added 2011, No. 102 (Adj. Sess.), § 1.)
12 V.S.A. § 4961
2021 Vermont Statutes|Title 12 - Court Procedure|Chapter 172 - Foreclosure of Mortgages|§ 4961. Power of nonjudicial sale

§ 4961. Power of nonjudicial sale|Whether or not a power of sale is contained in a mortgage relating to any property, except for farmland or a dwelling house owned by a natural person, instead of a suit and decree of foreclosure, the mortgagee may, upon breach of mortgage condition, foreclose upon the property without first commencing a foreclosure action or obtaining a foreclosure decree by complying with the terms of this subchapter. No sale under and by virtue of a nonjudicial power of sale shall be valid and effectual to foreclose the mortgage unless the conditions of this subchapter are complied with. (Added 2011, No. 102 (Adj. Sess.), § 1.)
12 V.S.A. § 4962
2021 Vermont Statutes|Title 12 - Court Procedure|Chapter 172 - Foreclosure of Mortgages|§ 4962. Notice of intention to foreclose

§ 4962. Notice of intention to foreclose|(a) At least 30 days prior to service of a notice of sale pursuant to subsection 4952(c) of this title, notice of intention to foreclose in a writing complying with this section shall be sent to the mortgagor by registered or certified mail at his or her last known address.(b) The writing required by this section shall state, in a manner calculated to make the mortgagor aware of the situation:  (1) the mortgage to be foreclosed; (2) the mortgage condition claimed to have been breached; (3) that the mortgagee has accelerated maturity of the debt secured by the mortgage, if that is the case; (4) the amount to be paid or other action necessary to cure, and the time within which the cure must take place, which shall be not less than 30 days after the date of the notice of intention to foreclose; (5) the intention of the mortgagee to foreclose by exercising the power of sale contained in the mortgage, if the breach of the mortgage condition is not cured within the time and in the manner specified in the notice; and (6) that the mortgagor will be entitled to be sent notice of the foreclosure sale at least 60 days prior to the sale and to redeem the mortgaged property at any time prior to the sale by paying the full amount due under the mortgage, including the costs and expenses of the sale.   (c)(1) The following notice of intent to foreclose form may be used and may be altered as circumstances requirePLEASE TAKE NOTICE that you have defaulted under Loan No. ____ by [mortgage condition breached] required by your Promissory Note dated ____, 20____. This default also constitutes a breach of the Mortgage, dated ____, 20____, recorded in Volume ____ at Page ____ of the Land Records, which secures the Loan. As a result of your default, we have accelerated the maturity of all indebtedness due on the Loan and secured by the Mortgage, totaling $____ as of today's date. In order to cure this default, you must pay to us on or before ____ [a date not less than thirty (30) days after the date of this Notice] the sum of $____, plus interest at the rate of $____ per day to the date of payment. If you do not cure this default by making the payments required, it is our intention to foreclose by exercising the power of sale contained in the above Mortgage. You will be sent notice of the foreclosure sale at least sixty (60) days prior to the sale, and you will be entitled to redeem your interest in the mortgaged property at any time prior to the sale by paying the full amount due under the Mortgage, including the costs and expenses of the sale. If you do not cure the default or redeem your interest, your ownership of the mortgaged property will be terminated. (2) This subsection shall not be construed to prevent the use of other forms except that all notices shall comply with the provisions of subsection (b) of this section. (Added 2011, No. 102 (Adj. Sess.), § 1.)
12 V.S.A. § 4963
2021 Vermont Statutes|Title 12 - Court Procedure|Chapter 172 - Foreclosure of Mortgages|§ 4963. Publication of notice of sale

§ 4963. Publication of notice of sale|Notice of a sale conducted pursuant to this subchapter shall be published once in each of three successive weeks, in a newspaper of general circulation in the town where the land lies, the first publication to be not less than 21 days before the day of sale. (Added 2011, No. 102 (Adj. Sess.), § 1.)
12 V.S.A. § 4964
2021 Vermont Statutes|Title 12 - Court Procedure|Chapter 172 - Foreclosure of Mortgages|§ 4964. Recording

§ 4964. Recording|The mortgagee shall record the notice of sale in the land records of the town or city where the land lies not less than 60 days prior to the sale. The filing of the notice of the sale shall be in lieu of filing a foreclosure complaint under section 4932 of this title and shall be sufficient notice of the pendency of the nonjudicial foreclosure by power of sale to all persons who acquire any interest or lien in the mortgaged property between the dates of recording the notice of sale and recording the foreclosure deed. Without further notice or service, those persons shall be bound by the power of sale and the foreclosure deed and shall be foreclosed from all rights or equity in the mortgaged property. (Added 2011, No. 102 (Adj. Sess.), § 1.)