The Vermont Statutes Online
The Vermont Statutes Online have been updated to include the actions of the 2023 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.
Title 27 : Property
Chapter 006 : Enhanced Life Estate Deeds
(Cite as: 27 V.S.A. § 654)-
§ 654. Execution and recording of an enhanced life estate deed
(a) Subject to the rights expressly reserved in the deed, a validly executed and recorded ELE deed does not:
(1) affect the ownership rights of the grantor or the grantor’s creditors;
(2) transfer or convey any present right, title, or interest in the property or create any present legal or equitable interest in the grantee; or
(3) subject the grantor’s property to process from the grantee’s creditors.
(b) The grantor may convey the property described in an ELE deed, or any portion thereof, without the need for joinder by, consent from, agreement of, or notice to the grantee.
(c) If not previously conveyed during the lifetime of the grantor, upon the death of the grantor, subject to encumbrances of record, the interest stated in an ELE deed vests in the grantee or, for a deceased grantee, the interest passes pursuant to section 658 of this title.
(d) An executed and recorded ELE deed shall be subject to the property transfer tax under 32 V.S.A. chapter 231. (Added 2019, No. 145 (Adj. Sess.), § 1, eff. July 13, 2020; amended 2021, No. 179 (Adj. Sess.), § 1, eff. January 1, 2022.)
