The Vermont Statutes Online
The Statutes below include the actions of the 2025 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.
Subchapter
003
:
FORECLOSURE BY JUDICIAL SALE
(Cite as: 12 V.S.A. § 4946)
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§ 4946. Procedure
(a) Order for judicial sale. Upon entry of a decree of judicial sale foreclosure, the court shall order that the
mortgaged property be sold at a public sale if it is not redeemed within the time
period allowed by the court. The public sale shall be conducted on or before six months
from the expiration of the last redemption date set forth in the decree unless extended
by the court or stayed by a bankruptcy filing. The time and manner of the sale shall
be specified in the notice of sale required by section 4952 of this title.
(b) Time for redemption; owner-occupied dwelling house or farmland. If a decree is made foreclosing the right of redemption by judicial sale with respect
to farmland or a dwelling house that is occupied by the owner as his or her principal
residence at the time the plaintiff applies for entry of judgment, the time of redemption
shall be established by the court and shall be six months from the date of the decree,
unless a shorter time is ordered by the court. The court shall fix the period of redemption
taking into consideration whether there is value in the mortgaged property in excess
of the mortgage debt and debt owed to junior lienholders, any assessed but unpaid
property taxes, the condition of the mortgaged property, and any other equities. No
sale of a dwelling house when occupied by the owner as his or her principal residence
at the time the plaintiff applies for entry of judgment may take place within seven
months of service of the foreclosure complaint, unless the court orders a shortened
redemption period pursuant to this section or the plaintiff and the mortgagor mutually
agree to a shorter period after commencement of the action to foreclose the mortgage.
(c) Time for redemption; other property. If a decree is made foreclosing the right of redemption by judicial sale with respect
to any property other than farmland or a dwelling house that is occupied by the owner
as his or her principal residence at the time the plaintiff applies for entry of judgment,
the redemption period shall be eliminated or reduced by the court to no more than
30 days.
(d) Writ of possession. Upon expiration of the period of redemption in the decree, other than farmland or
a dwelling house when currently occupied by the owner as his or her principal residence,
if the mortgagor or the mortgagor’s successors, heirs, or assigns have not redeemed
the mortgage, any remaining rights of the mortgagor to possession shall terminate,
and the clerk of the court shall issue a writ of possession at the plaintiff’s request
and upon court approval. In the case of farmland or a dwelling house currently occupied
by the owner as his or her principal residence when the period of redemption in the
decree expires, the clerk shall issue a writ of possession at the plaintiff’s request
and upon approval of the court. Such writ shall have the same force and effect and
be executed in the same manner as similar writs issued after judgment by a court of
law in ejectment proceedings. Where the mortgaged property is occupied by a residential
tenant, the writ shall be served on the tenant, and the plaintiff shall be placed
in possession of the mortgaged property without further proceedings no sooner than
30 days after the writ is served, or upon such other time as is required by federal
law, whichever is longer. (Added 2011, No. 102 (Adj. Sess.), § 1.)