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Searching 2021-2022 Session

The Vermont Statutes Online

 

Title 12 : Court Procedure

Chapter 123 : ATTACHMENT OF PROPERTY

Subchapter 005 : PERSONAL PROPERTY SUBJECT TO MORTGAGE, PLEDGE, OR LIEN; ATTACHMENT, LEVY OF EXECUTION, AND SALE

(Cite as: 12 V.S.A. § 3356)
  • § 3356. Subrogation of creditor by payment

    When such creditor pays or tenders such debt to the mortgagee, pledgee, or holder of such lien, as provided in sections 3353-3355 of this title, he or she shall be subrogated to all the rights of such mortgagee, pledgee, or holder, and may cause the same to be sold in the same manner that unencumbered personal property may be sold on mesne or final process; and the proceeds of such sale shall be applied first, in payment of the sum paid by such creditor to such mortgagee, pledgee, or holder and second, to satisfy the execution.