Arkansas § 28-77-405 Rental property

Arkansas Statutes

§ 28-77-405 — Rental property

Arkansas § 28-77-405

Title28

This text of Arkansas § 28-77-405 (Rental property) is published on Counsel Stack Legal Research, covering Arkansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ark. Code Ann. § 28-77-405 (2026).

Text

To the extent a fiduciary does not account for the management of rental property as a business under § 28-77-403 , the fiduciary shall allocate to income an amount received as rent of real or personal property, including an amount received for cancellation or renewal of a lease. An amount received as a refundable deposit, including a security deposit or a deposit that is to be applied as rent for future periods:

(1)must be added to principal and held subject to the terms of the lease, except as otherwise provided by law other than this chapter; and (2) is not allocated to income or available for distribution to a beneficiary until the fiduciary's contractual obligations have been satisfied with respect to that amount.

Free access — add to your briefcase to read the full text and ask questions with AI

To the extent a fiduciary does not account for the management of rental property as a business under § 28-77-403 , the fiduciary shall allocate to income an amount received as rent of real or personal property, including an amount received for cancellation or renewal of a lease. An amount received as a refundable deposit, including a security deposit or a deposit that is to be applied as rent for future periods: (1) must be added to principal and held subject to the terms of the lease, except as otherwise provided by law other than this chapter; and (2) is not allocated to income or available for distribution to a beneficiary until the fiduciary's contractual obligations have been satisfied with respect to that amount.