Vermont Statutes Title 27 Sec. 351
Terms Used In Vermont Statutes Title 27 Sec. 351
- Decedent: A deceased person.
- Fiduciary: A trustee, executor, or administrator.
- Grantor: The person who establishes a trust and places property into it.
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Personal property: All property that is not real property.
- Trustee: A person or institution holding and administering property in trust.
§ 351. Estates and trusts; conveyances, satisfactions, grants, and releases
(a) A conveyance or grant of an interest in real or personal property made to the estate of a decedent, to the estate of a ward, to the ward’s guardian, or to a trust, including a trust in the form of a pension or profit-sharing plan, that names the estate, the guardian, or the trust as the grantee of the interest is a valid and effective conveyance or grant to the personal representative, to the ward, or to the trustee of the trust, in like manner and effect as if the ward, or the personal representative or trustee in his or her fiduciary capacity, had been named the grantee of the conveyance or grant.
(b) A discharge, mortgage discharge, release, conveyance, grant, or satisfaction of an interest in real or personal property that is made by an estate, a guardian, or a trust described in subsection (a) of this section, that names the estate, the guardian, or the trust as the holder or grantor of the interest, and that is executed by the personal representative or trustee authorized to execute the instrument is valid in like manner and effect as if the personal representative, guardian, or trustee had been named the holder or the grantor in the instrument. (Added 2003, No. 150 (Adj. Sess.), § 3.)