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Vermont

Vermont Statutes, Title 12 § 4531. Judicial foreclosure state.

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Judicial Type

Judicial

Redemption

6 months from the date of the foreclosure decree (not the sa

Deficiency

In strict foreclosure, the lender takes the property as sati

Mediation

Vermont Foreclosure Mediation Program: mandatory for owner-o

Statute Citation

12 V.S.A. §§ 4531-4955

Redemption Period

6 months from the date of the foreclosure decree (not the sale). If no decree is entered quickly, the redemption period extends. Vermont has a unique 'strict foreclosure' process.

Deficiency Judgment Rule

In strict foreclosure, the lender takes the property as satisfaction of the debt — the lender waived deficiency by choosing this process. In judicial foreclosure by sale, deficiency may be available with fair value limitation.

Notice Requirements

Foreclosure complaint served. Lis pendens recorded. Vermont's strict foreclosure process: the court enters a decree stating the amount due and setting a redemption period. If the borrower does not redeem by the deadline, title vests automatically in the lender.

Mediation Program

Vermont Foreclosure Mediation Program: mandatory for owner-occupied residential mortgages. Mediation occurs before the court enters the foreclosure decree.

Key Provisions

  • Strict foreclosure is the standard process (unique to Vermont and Connecticut)
  • 6-month redemption period from decree
  • Mandatory mediation
  • No deficiency in strict foreclosure (lender takes property as payment)

Homeowner Protections

  • No deficiency in strict foreclosure
  • 6-month redemption period from decree entry
  • Mandatory mediation program
  • Judicial process with full court oversight

Frequently Asked Questions

What is Vermont's 'strict foreclosure' process?+
Vermont uses a unique 'strict foreclosure' process (shared only with Connecticut). In strict foreclosure: (1) the court enters a decree finding the amount of the debt, (2) the court sets a redemption period (typically 6 months from the decree date), (3) the borrower has the entire redemption period to pay the full debt and keep the property, (4) if the borrower does NOT redeem by the deadline, title passes AUTOMATICALLY to the lender — no sale is conducted, (5) the lender does not pursue a deficiency (taking the property satisfies the debt). There is no public auction. The strict foreclosure process eliminates the risk of a lowball sale price, but it also means there is no surplus if the property is worth more than the debt.
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