§ 2203 — Lease; of property by fiduciary; order; license

Vermont § 2203

• Jurisdiction: Vermont
• Title 14: Title 14: Decedents' Estates and Fiduciary Relations
• Ch. 103: Chapter 103: Mortgages and Leases by Executors, Administrators, Trustees, or Guardians

Text

(a) On motion and with the written consent of the interested parties, or after hearing, the Probate Division of the Superior Court may authorize a fiduciary to lease all or part of the real or personal property of the estate for the benefit of the estate. The court may authorize a fiduciary to enter into an agreement for the extension or renewal of an existing lease, or of any other lease created under the provisions of this chapter. A lease for a period of less than seven consecutive months shall not require a license.
(b) A motion filed under this section shall describe the property to be leased and shall include the prospective lessee, if known, the proposed use of the leased property, the limits of the proposed term of the lease, and the proposed rental. A license issued by the Probate Division of the Superior Court pursuant to this section shall fix the terms and conditions under which the property may be leased. (Amended 1985, No. 144 (Adj. Sess.), § 98; 2009, No. 154 (Adj. Sess.), § 238a, eff. Feb. 1, 2011; 2017, No. 195 (Adj. Sess.), § 14.)