Vermont Statutes Title 27 Sec. 703
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Terms Used In Vermont Statutes Title 27 Sec. 703
- Devise: To gift property by will.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Person: shall include any natural person, corporation, municipality, the State of Vermont or any department, agency, or subdivision of the State, and any partnership, unincorporated association, or other legal entity. See
- Personal estate: shall include all property other than real estate. See
§ 703. Estate or interest not vested in person in office or successor
A grant, conveyance, devise, or lease of real or personal estate to, or a trust of such real or personal estate for the benefit of, a person or the person’s successors in an ecclesiastical office shall not vest an estate or interest in the person or the person’s successor. Such a grant, conveyance, devise, or lease to or for the person, by the designation of the office, shall not vest an estate or interest in a successor of the person. This section shall not be deemed to admit the validity of such grant, conveyance, devise, or lease heretofore made. (Amended 2023, No. 6, § 342, eff. July 1, 2023.)