Terms Used In Vermont Statutes > Title 8 > Chapter 208 > Subchapter 1 - Effect of Merger, Share Exchange, Consolidation, Conversion, or Acquisition

• Annual meeting: when applied to towns shall mean the annual town meeting in March or an adjournment thereof. See
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Contract: A legal written agreement that becomes binding when signed.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Executor: A male person named in a will to carry out the decedent
• Facility: means a place or places in which a resident receives continuing care. See
• Fiduciary: A trustee, executor, or administrator.
• following: when used by way of reference to a section of the law shall mean the next preceding or following section. See
• Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
• 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.
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• 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.
• 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
• Resident: means the individual designated in a continuing care contract as the one who is to receive continuing care. See
• Trustee: A person or institution holding and administering property in trust.