Terms Used In Vermont Statutes > Title 14 > Chapter 111 > Subchapter 7 - Settlement of Accounts

• Account: means an arrangement under a terms-of-service agreement in which a custodian carries, maintains, processes, receives, or stores a digital asset of the user or provides goods or services to the user. See
• Agent: means an attorney-in-fact granted authority under a durable or nondurable power of attorney. See
• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
• Carries: means engages in the transmission of an electronic communication. See
• Codicil: An addition, change, or supplement to a will executed with the same formalities required for the will itself.
• Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
• Continuance: Putting off of a hearing ot trial until a later time.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Court: means the Probate Division of the Superior Court of Vermont. See
• Custodian: means a person who carries, maintains, processes, receives, or stores a digital asset of a user. See
• Decedent: A deceased person.
• Designated recipient: means a person chosen by a user using an online tool to administer digital assets of the user. See
• Digital asset: means an electronic record in which an individual has a right or interest. See
• Electronic: means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities. See
• Electronic-communication service: means a custodian who provides to a user the ability to send or receive an electronic communication. See
• Executor: includes administrator with the will annexed. See
• Executor: A male person named in a will to carry out the decedent
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• 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.
• Guardian: means a person appointed by a court to manage the estate of a living individual. See
• Information: means data, text, images, videos, sounds, codes, computer programs, software, databases, or the like. See
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Online tool: means an electronic service provided by a custodian that allows the user, in an agreement distinct from the terms-of-service agreement between the custodian and user, to provide directions for disclosure or nondisclosure of digital assets to a third person. See
• Person: means an individual, estate, business or nonprofit entity, public corporation, government or governmental subdivision, agency, or instrumentality, or other legal entity. 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
• Personal estate: shall include all property other than real estate. See
• Personal representative: means an executor, administrator, or special administrator, or a person who performs substantially the same function as an executor, administrator, or special administrator under law of this State other than this chapter. See
• Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. ^{Source: OCC}
• Power of attorney: means a record that grants an agent authority to act in the place of a principal. See
• Principal: means an individual who grants authority to an agent in a power of attorney. See
• Probate: Proving a will
• real estate: shall include lands, tenements, and hereditaments and all rights thereto and interests therein, and pews or slips in places of public worship shall be treated as real estate. See
• Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See
• Remote-computing service: means a custodian who provides a user with computer-processing services or the storage of digital assets by means of an electronic communications system as defined in 18 U. See
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• State: when applied to the different parts of the United States may apply to the District of Columbia and any territory and the Commonwealth of Puerto Rico. See
• Terms-of-service agreement: means an agreement that controls the relationship between a user and a custodian. See
• Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition.
• Trustee: A person or institution holding and administering property in trust.
• Trustee: means a fiduciary with legal title to property under an agreement or declaration that creates a beneficial interest in another. See
• User: means a person who has an account with a custodian. See