The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Subchapter
004
:
ALLOCATION OF RECEIPTS DURING ADMINISTRATION OF TRUST
(Cite as: 14 V.S.A. § 3355)
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§ 3355. Rental property
To the extent that a trustee accounts for receipts from rental property pursuant to
this section, the trustee shall allocate to income an amount received as rent of real
or personal property, including an amount received for cancellation or renewal of
a lease. An amount received as a refundable deposit, including a security deposit
or a deposit applied as rent for future periods, must be added to principal and held
subject to the terms of the lease and is not available for distribution to a beneficiary
until the trustee’s contractual obligations have been satisfied with respect to that
amount. (Added 2011, No. 114 (Adj. Sess.), § 1.)