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STATE OF VERMONT PROBATE COURT (Vermont Judiciary)

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Probate Court Form No. 121
Trustee’s License to
Mortgage or Lease
STATE OF VERMONT PROBATE COURT
DISTRICT OF _______________________
IN RE THE ESTATE OF DOCKET NO. __________________
_______________________________
LATE OF ______________________
TRUSTEE’S LICENSE TO MORTGAGE OR LEASE
WHEREAS application has been made to this court in writing by the trustee for license to
(mortgage) (lease) the following described real or personal property of the trust estate:
Whereas notice having been given and hearing held, if required by statue and the rules of probate
procedure;
NOW THEREFORE, the court makes the following findings with respect to the application:
1.The proposed (mortgage) (lease) is necessary because
____________________________________________________________________________________
______________________________________________________________________________________
2. That the proposed (mortgage) (lease) is authorized under the provisions of Article _______ of
the Will.
THEREUPON, this court orders and decrees that license and authority be granted, and the same are
granted to the trustee as aforesaid and the trustee is licenses and empowered:
_____________ To mortgage, pledge or assign the aforesaid property under the following
conditions:
Maximum amount of assets for which security may be mortgaged, pledge or assigned
_____________________________________________________________________________________
Terms that must be included: _____________________________________________________________
Maximum interest rate that may be paid:____________________________________________________
Any requirement that payments be made from income:_________________________________________
_______________ To lease the aforesaid property or a part thereof as described below under the following
terms:
Part to be leased: ________________________________________________________________________
Terms:_________________________________________________________________________________
Dated: _________________________________
_______________________________________
Probate Judge
Probate Court, District of _______________________
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STATE OF VERMONT PROBATE COURT (Vermont Judiciary)

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Completed 23 November 2020

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