§ 3356 - Subrogation of creditor by payment - Vermont Statutes

§ 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 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.