("Mortgage loan" means a loan secured primarily by a lien against real estate.) Use these forms to finance real property; residential property, vacant land, rental units, condominiums, commercial and planned unit developments. (V.S.A. 2101(13) Definitions)

This mortgage contains a power of sale clause pursuant to the provisions of 12 V.S.A. Chapter 172, which allows for a non-judicial foreclosure when applicable, saving time and expense for the lender. A non-judicial foreclosure generally applies to any real property except for a dwelling house of two units or less, that is occupied by the owner as a principal residence, or farmland. If a non-judicial foreclosure is NOT applicable this form allows for a judicial foreclosure.

The debt is evidenced by the Promissory Note that is governed by the State of Vermont. A Mortgage and Promissory Note with stringent default terms and conditions can be beneficial to the lender.

Vermont is a "notice" state. Delivery of a mortgage instrument of real property constitutes constructive notice as of the time it is recorded.

(Vermont Mortgage Package includes form, guidelines, and completed example) For use in Vermont only.

Important: County-Specific Forms

Our mortgage security agreement and promissory note forms are specifically formatted for each county in Vermont.

After selecting your county, you'll receive forms that meet all local recording requirements, ensuring your documents will be accepted without delays or rejection fees.

How to Use This Form

Select your county from the list above
Download the county-specific form
Fill in the required information
Have the document notarized if required
Record with your county recorder's office

Common Uses for Mortgage Security Agreement and Promissory Note

Transfer property between family members
Add or remove names from property titles
Transfer property into or out of trusts
Correct errors in previously recorded deeds
Gift property to others

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