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Searching 2021-2022 Session

The Vermont Statutes Online

 

Title 14 : Decedents Estates and Fiduciary Relations

Chapter 073 : PROCEEDINGS FOR RECOVERY OF PROPERTY EMBEZZLED AND FRAUDULENTLY CONVEYED

(Cite as: 14 V.S.A. § 1558)
  • § 1558. Creditor may act

    (a) If there is a deficiency of assets in the estate, any creditor of the estate who obtains a license to do so from the Probate Division of the Superior Court may bring an action in the name of the executor or administrator in the Probate Division to recover any property fraudulently conveyed by the deceased in his or her lifetime. The action shall be for the benefit of the creditors and shall be brought in the same manner as an action by the executor or administrator under section 1554 of this title. A creditor licensed by the court to bring an action under this section may recover any property conveyed by the deceased in his or her lifetime by a fraudulent or void conveyance.

    (b) An action under this section shall not be commenced until the creditor files with the court a bond with sufficient sureties conditioned to indemnify the executor or administrator against the costs of the action.

    (c) A creditor who brings an action under this section shall have a lien upon the judgment recovered by him or her for the costs incurred and any other expenses the court deems equitable. (Amended 2009, No. 154 (Adj. Sess.), § 238a, eff. Feb. 1, 2011; 2017, No. 195 (Adj. Sess.), § 8.)