Vermont Statutes Title 14 Sec. 403
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Terms Used In Vermont Statutes Title 14 Sec. 403
- 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.
- Trustee: A person or institution holding and administering property in trust.
§ 403. Trusts created in other jurisdictions
A trust not created by will is validly created if its creation complies with the law of the jurisdiction in which the trust instrument was executed, or the law of the jurisdiction in which, at the time of creation:
(1) the settlor was domiciled, had a place of abode, or was a citizen;
(2) a trustee was domiciled or had a place of business; or
(3) any trust property was located. (Added 2009, No. 20, § 1.)