Vermont Statutes Title 14 Sec. 709
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Terms Used In Vermont Statutes Title 14 Sec. 709
- Lien: A claim against real or personal property in satisfaction of a debt.
- Trustee: A person or institution holding and administering property in trust.
§ 709. Reimbursement of expenses
(a) A trustee is entitled to be reimbursed out of the trust property, with reasonable interest as appropriate, for:
(1) expenses that were properly incurred in the administration of the trust; and
(2) to the extent necessary to prevent unjust enrichment of the trust, expenses that were not properly incurred in the administration of the trust.
(b) An advance by the trustee of money for the protection of the trust gives rise to a lien against trust property to secure reimbursement with reasonable interest. (Added 2009, No. 20, § 1.)