Vermont Statutes Title 15 Sec. 796
Terms Used In Vermont Statutes Title 15 Sec. 796
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Court: means the court with jurisdiction over the proceeding. See
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Obligor: means the person required to pay support under a support order. See
- Support: means periodic payments ordered for the support of dependent children or, for the purposes of sections 783-790 of this title only, a spouse. See
§ 796. Assets held in escrow
If a proceeding for enforcement of child support has previously been brought against an obligor under this subchapter and the obligor at any time thereafter fails to pay support in an amount equal to one-twelfth of the annual support obligation, the court may, in addition to any other remedies under this subchapter, order that existing liquid assets be held in escrow by the court sufficient to secure payment of support for a period not to exceed four months. If the obligor fails to pay support in an amount equal to one-twelfth of the annual support obligation, the assets held in escrow shall be applied toward unpaid support. (Added 1989, No. 220 (Adj. Sess.), § 14.)