Vermont § 3374 - Transfers from income to reimburse principal
Full text of Vermont Vermont Statutes Online § 3374 — Transfers from income to reimburse principal, with citation guidance and answers to common questions.
§ 3374. Transfers from income to reimburse principal
- (a) If a trustee makes or expects to make a principal disbursement described in this section,
the trustee may transfer an appropriate amount from income to principal in one or
more accounting periods to reimburse principal or to provide a reserve for future
principal disbursements. (b) Principal disbursements to which subsection (a) of this section applies include the
following, but only to the extent that the trustee has not been and does not expect
to be reimbursed by a third party: (1) an amount chargeable to income but paid from principal because it is unusually large,
including extraordinary repairs; (2) a capital improvement to a principal asset, whether in the form of changes to an existing
asset or the construction of a new asset, including special assessments; (3) disbursements made to prepare property for rental, including tenant allowances, leasehold
improvements, and broker’s commissions; (4) periodic payments on an obligation secured by a principal asset to the extent that
the amount transferred from income to principal for depreciation is less than the
periodic payments; and (5) disbursements described in subdivision 3372(a)(7) of this title. (c) If the asset whose ownership gives rise to the disbursements becomes subject to a
successive income interest after an income interest ends, a trustee may continue to
transfer amounts from income to principal as provided in subsection (a) of this section. (Added 2011, No. 114 (Adj. Sess.), § 1.)
Source: official Vermont text · Last verified 2026-08-27
Frequently Asked Questions About Vermont § 3374
What does Vermont Statutes Online § 3374 cover?
Section 3374 ("Transfers from income to reimburse principal") 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 § 3374?
A common citation format is "Vermont Statutes Online § 3374" (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 § 3374 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.