Title 15 — Decedents' Estates and Fiduciary Relations
24 chapters · 422 sections in this title.
15 V.I.C. § 191 Petition for settlement without administration
1.6K chars
(1) Whenever a person dies intestate, leaving no debts, or such debts as his heirs choose to assume and pay, the heirs may present to the court a petition duly verified by two witnesses, which shall state—(1) the name and residence of the deceased;(2) the date of his death, suppo…
15 V.I.C. § 192 Inventory to be annexed to petition
0.4K chars
An inventory of all property left by the deceased shall be annexed to the petition referred to in section 191 of this title. The inventory shall state the true and fair value of the property at the time of the decedent's death, shall be sworn to by two responsible persons, and sh…
15 V.I.C. § 193 Presentation of petition to United States attorney
0.6K chars
Before presentation of the petition referred to in section 191 of this title to the court for consideration it shall be submitted to the United States attorney who, if satisfied as to the correctness of the valuation as shown by the inventory and sworn to, shall approve the petit…
15 V.I.C. § 194 Deposit and payment of tax
0.6K chars
After publication of notice to creditors once a week for four weeks and upon the approval, by the United States attorney or by judgment on rule, of the petition referred to in section 191 of this title, the amount of the inheritance tax shall be deposited with the clerk of the co…
15 V.I.C. § 195 Judgment prima facie proof of title
0.3K chars
In the judgment recognizing the heirs and placing them in possession of the estate of the deceased, the real estate shall be described in detail. A registration in the office of the proper recorder of deeds of said judgment, or a certified copy thereof, shall be prima facie proof…
15 V.I.C. § 196 Acceptance of estate on behalf of minors
0.5K chars
Where all or any of the heirs are minors, acceptance of the estate can only be made for said minors after the filing of an inventory and appraisement, as provided for by chapter 19 of this title, provided that the acceptance by either surviving spouse, by a guardian, or another a…
15 V.I.C. § 197 Creditor's lien
0.4K chars
Any creditor may obtain and preserve a lien against all property of the decedent by filing for recordation, within 1 year after the decedent's death, in the office of the clerk of the court, a sworn itemized account of his claim and from the date of recordation said claim shall b…
15 V.I.C. § 198 Procedure where decedent left will
0.3K chars
If the decedent has left a last will and testament, the legatee or legatees under the will, may, after inventory and appraisement and appointment of executor or administrator, if an administration is unnecessary, apply to the court to be recognized and placed in possession upon s…
15 V.I.C. § 199 Service of process upon absent heir or legatee
0.8K chars
Any heir or legatee, non-resident of the Virgin Islands, or who shall remove therefrom after having been placed in possession of any of the assets of an estate under this chapter in relation to any claim against said estate is presumed to have consented to be sued in the District…
15 V.I.C. § 200 Prescribed period when transactions voidable by creditor
0.4K chars
In the interval between the entry of a judgment placing heirs in possession as provided for in this chapter and 120 days thereafter, any alienation, transfer, assignment, mortgage or encumbrance of the assets of the estate shall be voidable as against any creditor prejudiced ther…
15 V.I.C. § 201 Nontestamentary nature of provisions for nonprobate transfer on death
2.0K chars
(1) A provision for a nonprobate transfer on death in an insurance policy, contract of employment, bond, mortgage, promissory note, certificated or uncertificated security, account agreement, custodial agreement, deposit agreement, compensation plan, pension plan, individual reti…
15 V.I.C. § 201a Liability of nonprobate transferees for creditor claims and statutory allowances
5.2K chars
(a) In this section, “nonprobate transfer” means a valid transfer effective at death, other than a transfer of a survivorship interest in a joint tenancy of real estate, by a transferor whose last domicile was in the Virgin Islands to the extent that the transferor immediately be…
15 V.I.C. § 202 Short title
0.1K chars
This chapter may be cited as The Virgin Islands Uniform Real Property Transfer on Death Act.
15 V.I.C. § 202a Definitions
2.0K chars
(a) In this subchapter:(a) “Beneficiary” means a person that receives property under a transfer on death deed.(b) “Designated beneficiary” means a person designated to receive property in a transfer on death deed.(c) “Joint owner” means an individual who owns property concurrentl…
15 V.I.C. § 203 Applicability
0.2K chars
This subchapter applies to a transfer on death deed made before, on, or after the effective date of this subchapter by a transferor dying on or after the effective date of this subchapter.
15 V.I.C. § 204 Nonexclusivity
0.1K chars
This subchapter does not affect any method of transferring property otherwise permitted under the law of this Territory.
15 V.I.C. § 205 Transfer on death deed authorized
0.1K chars
An individual may transfer property to one or more beneficiaries effective at the transferor’s death by a transfer on death deed.
15 V.I.C. § 206 Transfer on death deed revocable
0.1K chars
A transfer on death deed is revocable even if the deed or another instrument contains a contrary provision.
15 V.I.C. § 207 Transfer on death deed nontestamentary
0.0K chars
A transfer on death deed is non-testamentary.
15 V.I.C. § 208 Capacity of transferor
0.1K chars
The capacity required to make or revoke a transfer on death deed is the same as the capacity required to make a will.
15 V.I.C. § 209 Requirements
0.9K chars
(1) A transfer on death deed:(1) Except as otherwise provided in paragraph (2) of this section, must contain the essential elements and formalities of a properly recordable inter vivos deed;(2) must state that the transfer to the designated beneficiary is to occur at the transfer…
15 V.I.C. § 210 Notice, delivery, acceptance; consideration not required
0.3K chars
(a) A transfer on death deed is effective without:(a) notice or delivery to or acceptance by the designated beneficiary during the transferor’s life; or(b) consideration. (a) notice or delivery to or acceptance by the designated beneficiary during the transferor’s life; or (b) co…
15 V.I.C. § 211 Revocation by instrument authorized; revocation by act not permitted
2.2K chars
(a) Subject to subsection (b), an instrument is effective to revoke a recorded transfer on death deed, or any part of it, only if the instrument:(1) is one of the following:(A) a transfer on death deed that revokes the deed or part of the deed expressly or by inconsistency;(B) an…
15 V.I.C. § 212 Effect of transfer on death deed during transferor’s life
1.4K chars
(1) A transfer on death deed does not:(1) affect an interest or right of the transferor or any other owner, including the right to transfer or encumber the property;(2) affect an interest or right of a transferee, even if the transferee has actual or constructive notice of the de…
15 V.I.C. § 213 Effect of transfer on death deed at transferor’s death
4.7K chars
(a) Except as otherwise provided in this section:(i) the transfer on death deed;(ii) the anti-lapse provisions of section 21 of title 15;(iii) the revocation by divorce provisions of section 87 of this title;(iv) the doctrine of revocation by homicide as provided in the common la…
15 V.I.C. § 214 Disclaimer
0.1K chars
A beneficiary may disclaim all or part of the beneficiary’s interest as provided by subchapter IV of this chapter.
15 V.I.C. § 215 Liability for creditor claims and statutory allowances
0.2K chars
A beneficiary of a transfer on death deed is liable for an allowed claim against the transferor’s probate estate and statutory allowances to a surviving spouse and children to the extent provided in section 352 of this title.
15 V.I.C. § 216 Optional form of transfer on death deed
10.1K chars
The following form may be used to create a transfer on death deed. The other sections of this subchapter govern the effect of this or any other instrument used to create a transfer on death deed:(front of form)REVOCABLE TRANSFER ON DEATH DEEDNOTICE TO OWNERYou should carefully re…
15 V.I.C. § 217 Uniformity of application and construction
0.2K chars
In applying and construing this subchapter, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among the states and territories that enact it.
15 V.I.C. § 218 Short title and definitions
4.1K chars
(a) Short title. This subchapter may be cited as The Virgin Islands Uniform Disclaimer of Property Interests Act. (b) Definitions. In this subchapter:(1) “Disclaimant” means the person to whom a disclaimed interest or power would have passed had the disclaimer not been made.(2) “…
15 V.I.C. § 219 Power to disclaim; general requirements; when irrevocable
2.6K chars
(a) A person may disclaim, in whole or part, any interest in or power over property, including a power of appointment. A person may disclaim the interest or power even if its creator imposed a spendthrift provision or similar restriction on transfer or a restriction or limitation…
15 V.I.C. § 220 Disclaimer of interest in property
6.7K chars
(a) In this section:(1) “Future interest” means an interest that takes effect in possession or enjoyment, if at all, later than the time of its creation.(2) “Time of distribution” means the time when a disclaimed interest would have taken effect in possession or enjoyment. (1) “F…
15 V.I.C. § 221 Disclaimer of rights of survivorship in jointly held property
1.1K chars
(a) Upon the death of a holder of jointly held property, a surviving holder may disclaim, in whole or part, the greater of:(1) a fractional share of the property determined by dividing the number one by the number of joint holders alive immediately before the death of the holder …
15 V.I.C. § 222 Disclaimer of interest by trustee
0.1K chars
If a trustee disclaims an interest in property that otherwise would have become trust property, the interest does not become trust property.
15 V.I.C. § 223 Disclaimer of power of appointment or other power not held in fiduciary capacity
1.1K chars
(1) If a holder disclaims a power of appointment or other power not held in a fiduciary capacity, the following rules apply:(1) If the holder has not exercised the power, the disclaimer takes effect as of the time the instrument creating the power becomes irrevocable.(2) If the h…
15 V.I.C. § 224 Disclaimer by appointee, object, or taker in default of exercise of power of appointment
0.4K chars
(a) A disclaimer of an interest in property by an appointee of a power of appointment takes effect as of the time the instrument by which the holder exercises the power becomes irrevocable. (b) A disclaimer of an interest in property by an object or taker in default of an exercis…
15 V.I.C. § 225 Disclaimer of power held in fiduciary capacity
0.6K chars
(a) If a fiduciary disclaims a power held in a fiduciary capacity which has not been exercised, the disclaimer takes effect as of the time the instrument creating the power becomes irrevocable. (b) If a fiduciary disclaims a power held in a fiduciary capacity which has been exerc…
15 V.I.C. § 226 Delivery or filing
5.1K chars
(a) In this section, “beneficiary designation” means an instrument, other than an instrument creating a trust, naming the beneficiary of:(1) an annuity or insurance policy;(2) an account with a designation for payment on death;(3) a security registered in beneficiary form;(4) a p…
15 V.I.C. § 227 When disclaimer barred or limited
1.5K chars
(a) A disclaimer is barred by a written waiver of the right to disclaim. (b) A disclaimer of an interest in property is barred if any of the following events occur before the disclaimer becomes effective:(1) the disclaimant accepts the interest sought to be disclaimed;(2) the dis…
15 V.I.C. § 228 Tax qualified disclaimer
0.4K chars
Notwithstanding any other provision of this subchapter, if as a result of a disclaimer or transfer the disclaimed or transferred interest is treated pursuant to the provisions of title 26 of the United States Code, or any successor statute thereto, and the regulations promulgated…
15 V.I.C. § 229 Recording of disclaimer
0.4K chars
If an instrument transferring an interest in or power over property subject to a disclaimer is required or permitted by law to be filed, recorded, or registered, the disclaimer may be so filed, recorded, or registered. Failure to file, record, or register the disclaimer does not …
15 V.I.C. § 230 Application to existing relationships
0.3K chars
Except as otherwise provided in section 220, an interest in or power over property existing on the effective date of this subchapter as to which the time for delivering or filing a disclaimer under law superseded by this subchapter has not expired may be disclaimed after the effe…
15 V.I.C. § 231 Relation to Electronic Signatures in Global and National Commerce Act
0.3K chars
This subchapter modifies, limits, and supersedes the federal Electronic Signatures in Global and National Commerce Act, 15 U.S.C. § 7001, et seq., but does not modify, limit, or supersede § 101(c) of that act 15 U.S.C. § 7001(c)) or authorize electronic delivery of any of the not…
15 V.I.C. § 232 Uniformity of application and construction
0.2K chars
In applying and construing this subchapter, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among States that enact it.
15 V.I.C. § 233 Severability clause
0.3K chars
If any provision of this subchapter or its application to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of this subchapter which can be given effect without the invalid provision or application, and to this end the pro…