§ 5-431. Termination of proceedings
(a) A conservatorship terminates upon the death of the protected person or upon order of the Court. Unless created for reasons other than that the protected person is a minor, a conservatorship created for a minor also terminates when the protected person attains majority or is emancipated. (b) Upon the death of a protected person, […]
§ 5-432. Payment of debt and delivery of property to foreign conservator without local proceeding
(a) A person who is indebted to or has the possession of tangible or intangible property of a protected person may pay the debt or deliver the property to a foreign conservator, guardian of the estate, or other court-appointed fiduciary of the State of residence of the protected person. Payment or delivery may be made […]
§ 5-433. Foreign conservator; proof of authority; bond; powers
If a conservator has not been appointed in the Virgin Islands and a petition in a protective proceeding is not pending in the Virgin Islands, a conservator appointed in the jurisdiction in which the protected person resides may file in a court of the Virgin Islands, in a judicial division in which property belonging to […]
§ 5-434. Applicability; construction
(a) Article V, parts 1-4 apply to guardianship proceedings commenced on or after their effective date. (b) This article must be liberally construed and applied to promote its underlying purposes and policy and to make uniform the laws with respect to the subject of this article among the jurisdictions enacting it. (c) Unless displaced by […]
§ 5-429. Presentation and allowance of claims
(a) A conservator may pay, or secure by encumbering assets of the estate, claims against the estate or against the protected person arising before or during the conservatorship upon their presentation and allowance in accordance with the priorities stated in subsection (d). A claimant may present a claim by: (1) sending or delivering to the […]
§ 5-430. Personal liability of conservator
(a) Except as otherwise agreed, a conservator is not personally liable on a contract properly entered into in a fiduciary capacity in the course of administration of the estate unless the conservator fails to reveal in the contract the representative capacity and identify the estate. (b) A conservator is personally liable for obligations arising from […]
§ 5-421. Title by appointment
(a) The appointment of a conservator vests title in the conservator as trustee to all property of the protected person, or to the part thereof specified in the order, held at the time of appointment or thereafter acquired. An order vesting title in the conservator to only a part of the property of the protected […]
§ 5-422. Protected person’s interest inalienable
(a) Except as otherwise provided in subsections (c) and (d), the interest of a protected person in property vested in a conservator is not transferable or assignable by the protected person. An attempted transfer or assignment by the protected person, although ineffective to affect property rights, may give rise to a claim against the protected […]
§ 5-423. Sale, encumbrance, or other transaction involving conflict of interest
Any transaction involving the conservatorship estate which is affected by a substantial conflict between the conservator’s fiduciary and personal interests is voidable unless the transaction is expressly authorized by the Court after notice to interested persons. A transaction affected by a substantial conflict between personal and fiduciary interests includes any sale, encumbrance, or other transaction […]
§ 5-424. Protection of person dealing with conservator
(a) A person who assists or deals with a conservator in good faith and for value in any transaction other than one requiring a court order under section 5-410 or section 5-411 is protected as though the conservator properly exercised the power. That a person knowingly deals with a conservator does not alone require the […]