§ 2903 — Duration and effectiveness

Vermont § 2903

• Jurisdiction: Vermont
• Title 12: Title 12: Court Procedure
• Ch. 113: Chapter 113: Judgment Lien

Text

(a) A judgment lien shall be effective for eight years from the issuance of a final judgment on which it is based except that an action to foreclose the judgment lien during the eight-year period shall extend the period until the termination of the foreclosure suit if a copy of the complaint is filed in the land records on or before eight years from the issuance of the final judgment.
(b) A judgment that is renewed or revived pursuant to section 506 of this title shall constitute a lien on real property for eight years from the issuance of the renewed or revived judgment if recorded in accordance with this chapter. The renewed or revived judgment shall relate back to the date on which the original lien was first recorded if a copy of the complaint to renew the judgment was recorded in the land records where the property lies within eight years after the rendition of the judgment, and the renewed or revived judgment is subsequently recorded in accordance with this chapter.
(c) Interest on a judgment lien shall accrue at the rate of 12 percent per annum.
(d) If a judgment lien is not satisfied within 30 days of recording, it may be foreclosed and redeemed as provided in this title and V.R.C.P. 80.1. Unless the court finds that as of the date of foreclosure the amount of the outstanding debt exceeds the value of the real property being foreclosed, chapter 172 of this title shall apply to foreclosure of a judgment lien. (Added 1979, No. 67, § 3, eff. date, see note set out below; amended 1979, No. 173 (Adj. Sess.), § 26, eff. April 30, 1980; 2009, No. 132 (Adj. Sess.), § 9, eff. May 29, 2010; 2011, No. 102 (Adj. Sess.), § 4, eff. May 5, 2012; 2019, No. 167 (Adj. Sess.), § 10, eff. October 7, 2020.)