Legal Question in Real Estate Law in Vermont

Re: Accrued Interest on Estate Sale

I can't speak to VT law; and more facts would be required to address your question. However, I can tell you that in MD, if the money was kept in an attorney's trust account while the various accountings etc. are conducted in the orphan's court, the interest does get paid to a special fund and is not available for distribution to clients. Attorneys in MD are required to keep client money in special bank accounts designated as IOLTA (Interest On Lawyer Trust Accounts). The interest from these accounts is paid by the banks directly to the "Client Security Trust Fund". The proceeds of the fund are available to people who have lost money due to theft or other types of misconduct on the part of attorneys. There is a process by which claims are made and evaluated.

I can imagine that Vermont may have a similar program. You should contact a VT atty for more details on their programs.

On the other hand, if the interest was a substantial amount, and the attorney handling the estate took longer than was reasonable to bring the matter to conclusion, or took longer than necessary to cut a check after it should have been sent, that is a different issue -- and it is one that should be taken up with the atty directly.

Lawrence R. Holzman, Esquire

Joseph, Greenwald & Laake, P.A.

6404 Ivy Lane, Suite 400

Greenbelt, MD 20770

(301) 220-2200

fax (301) 220-1214

Disclaimer: Please note that the posting of this response is not intended to constitute legal advice. You should contact an attorney to obtain information applicable to your situation. This posting is not confidential or privileged and does not create an attorney/client relationship.