§ 469 - Mortgagee corporation whose charter has expired - Vermont Statutes

§ 469. Mortgagee corporation whose charter has expired

When it appears from the record of a mortgage on real estate that such mortgage is undischarged, and the mortgagee named therein, or the assignee of such mortgage, is a private corporation whose charter has expired by its own limitation, or has been dissolved by operation of law, forfeiture, or for any other reason, a complaint may be brought to the presiding judge of the superior court of the county wherein such mortgage is recorded and, after such hearing as said presiding judge may direct, if he is satisfied that the conditions of such mortgage have been complied with, and have no force in law, and is further satisfied that there is no person within the state having authority to discharge such mortgage, he may direct an order discharging such mortgage. Such proceedings shall be without taxation of costs except that the moving party shall bear the costs of such notice as said presiding judge may order. (Amended 1973, No. 193 (Adj. Sess.), § 3, eff. April 9, 1974.)