Vermont § 3373 - Transfers from income to principal for depreciation
Full text of Vermont Vermont Statutes Online § 3373 — Transfers from income to principal for depreciation, with citation guidance and answers to common questions.
§ 3373. Transfers from income to principal for depreciation
- (a) As used in this section, “depreciation” means a reduction in value due to wear, tear,
decay, corrosion, or gradual obsolescence of a fixed asset having a useful life of
more than one year. (b) A trustee may transfer to principal a reasonable amount of the net cash receipts from
a principal asset that is subject to depreciation, but may not transfer any amount
for depreciation in the following instances: (1) of that portion of real property used or available for use by a beneficiary as a residence
or of tangible personal property held or made available for the personal use or enjoyment
of a beneficiary; (2) during the administration of a decedent’s estate; or (3) under this section if the trustee is accounting under section 3353 of this title for the business or activity in which the asset is used. (c) An amount transferred to principal need not be held as a separate fund. (Added 2011, No. 114 (Adj. Sess.), § 1.)
Source: official Vermont text · Last verified 2026-08-27
Frequently Asked Questions About Vermont § 3373
What does Vermont Statutes Online § 3373 cover?
Section 3373 ("Transfers from income to principal for depreciation") is part of the Vermont Statutes Online, the codified statutory law of Vermont. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Vermont § 3373?
A common citation format is "Vermont Statutes Online § 3373" (Vermont). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Vermont law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Vermont official source linked on this page or consult a licensed Vermont attorney.
How does Vermont § 3373 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Vermont can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Vermont.