Vermont Statutes Title 14. Decedents' Estates and Fiduciary Relations, § 3361. Minerals, water, and other natural resources

(a) To the extent that a trustee accounts for receipts from an interest in minerals or other natural resources pursuant to this section, the trustee shall allocate them as follows:

(b) An amount received on account of an interest in water that is renewable must be allocated to income. If the water is not renewable, 90 percent of the amount must be allocated to principal and the balance to income.

(c) This chapter applies whether or not a decedent or donor was extracting minerals, water, or other natural resources before the interest became subject to the trust.

(d) If a trust owns an interest in minerals, water, or other natural resources on July 1, 2012, the trustee may allocate receipts from the interest as provided in this chapter or in the manner used by the trustee prior to July 1, 2012. If the trust acquires an interest in minerals, water, or other natural resources after July 1, 2012, the trustee shall allocate receipts from the interest as provided in this chapter.