Vermont Statutes Title 14 Sec. 1402
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Vermont Statutes Title 14 Sec. 1402
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Executor: A male person named in a will to carry out the decedent
- Executor: includes administrator with the will annexed. See
- 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
- Trustee: A person or institution holding and administering property in trust.
§ 1402. Sum recovered paid to person entitled thereto
When an executor or administrator commences or prosecutes an action founded on a debt, demand, or claim for damages, and is only a trustee of the claim for the use of another person, and where the claim, although prosecuted in the name of the executor or administrator, belongs to another person, the sum or property recovered shall not be assets in the hands of the executor or administrator, but shall be paid over to the person entitled to them, after deducting or being paid the costs and expenses of the prosecution. (Amended 2017, No. 195 (Adj. Sess.), § 7.)