Can Interest be Charged on a Judgment in Vermont?
Full Question:
Answer:
In the writ of execution, the clerk must set forth the amount of post-judgment interest due per day, calculated on the full amount of principal included in the judgment at the maximum rate allowed by law. In levying execution, the officer shall collect per diem interest in the daily amount from the date of entry of judgment to and including the date of satisfaction. If an execution is returned partially satisfied, the return must show the date of partial satisfaction. The amount collected shall be first applied to interest accrued to that date. Interest on the portion of the judgment remaining unsatisfied shall be computed from the date of partial satisfaction and collected in the same manner on any subsequent levy of execution.
Please see the following VT statutes:
"Judgment" as used in these
rules includes a decree and any order from which an appeal lies. A judgment
shall not contain a recital of pleadings, the report of a master, or the
record of prior proceedings. In an action where monetary relief is
awarded, the amount of the judgment shall include the principal amount
found to be due, all interest accrued on that amount up to and including
the date of entry of judgment, and all costs allowed to the prevailing
party.
RULE 69. EXECUTION
Process to enforce a judgment for the payment of money shall be a writ
of execution, unless the court directs otherwise. No execution running
against the body shall be issued to enforce a judgment in any civil
action for money damages. In addition to the procedure on execution, in
proceedings supplementary to and in aid of a judgment, and in proceedings
on and in aid of execution, as provided by law, the judgment creditor or
a successor in interest when that interest appears of record, may obtain
discovery from any person, including the judgment debtor, in the manner
provided in these rules.
Executions shall be made returnable within sixty days from the date
thereof. Executions may be issued so long as the judgment remains
unsatisfied, but not after eight years from the date of rendition of the
judgment. Actions or motions to renew or revive judgments shall not be a
prerequisite to issuance of a writ of execution as long as the eight-year
period has not expired.
The judgment creditor shall deliver to the officer levying execution a
list of exemptions, which the officer shall serve on the judgment
debtor, together with a copy of the writ of execution.
In the writ of execution, the clerk shall set forth the amount of
post-judgment interest due per day, calculated on the full amount of
principal included in the judgment at the maximum rate allowed by law. In
levying execution, the officer shall collect per diem interest in the
daily amount from the date of entry of judgment to and including the date
of satisfaction. If an execution is returned partially satisfied, the
return shall show the date of partial satisfaction. The amount collected
shall be first applied to interest accrued to that date. Interest on the
portion of the judgment remaining unsatisfied shall be computed from the
date of partial satisfaction and collected in the same manner on any
subsequent levy of execution.
Process to enforce a judgment for the delivery of possession of land
shall be a writ of possession.
12 V.S.A. § 2681. Executions in supreme and superior courts; time
(a) The supreme and superior courts may issue executions on final
judgments rendered by them, which shall be made returnable within 60 days
from the date thereof. Such executions may be issued so long as the
judgment remains unsatisfied, but not after eight years from the date of
rendition of the judgment, except as provided in subsection (b) of this
section.
(b) Executions on small claims court judgments may be made so long as
the judgment remains unsatisfied, but not after eight years from the date
of rendition of the judgment. Actions to renew small claims court
judgments shall be brought by filing a complaint in small claims court
prior to the expiration of the judgment, and may be made for the amount of
the judgment and any postjudgment costs, fees, and interest allowed by
law.