The Vermont Statutes Online
The Vermont Statutes Online have been updated to include the actions of the 2023 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Title 8 : Banking and Insurance
Chapter 101 : Insurance Companies Generally
Subchapter 004 : Investments and Loans
(Cite as: 8 V.S.A. § 3470)-
§ 3470. Mortgage loans to minors
An insurer is hereby authorized to make loans secured by a mortgage on real estate to a husband and wife where either or both is a minor 18 years old or over and where said real estate is to be used as a home by said husband and wife, subject to statutory conditions relating to such insurer, and may make any contract relating thereto with such minor. Such minors may be legally bound to the full performance of such mortgage and notes and contracts relating thereto without right of rescission because of their minority. The minority of such minor shall not be a defense nor a material issue in any civil action in which such mortgage or contract is material. (Added 1967, No. 344 (Adj. Sess.), § 1 (ch. 1, subch. 5, art. 3, § 6).)
