Arizona § 14-7419 Liquidating assets; definition

Arizona Statutes

§ 14-7419 — Liquidating assets; definition

Arizona § 14-7419

Title 14Arizona Revised Statutes

Ch. 7TRUST ADMINISTRATION

Art. 4Revised Uniform Principal and Income Act

This text of Arizona § 14-7419 (Liquidating assets; definition) is published on Counsel Stack Legal Research, covering Arizona primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ariz. Rev. Stat. Ann. § 14-7419 (2026).

Text

A. A trustee shall allocate to income ten per cent of the receipts from a liquidating asset and the balance to principal. B. For the purposes of this section, "liquidating asset": 1. Means an asset whose value will diminish or terminate because the asset is expected to produce receipts for a period of limited duration. 2. Includes a leasehold, patent, copyright, royalty right and right to receive payments during a period of more than one year under an arrangement that does not provide for the payment of interest on the unpaid balance. 3. Does not include:

(a)A payment subject to section 14-7418.

(b)Resources subject to section 14-7420.

(c)Timber subject to section 14-7421.

(d)An activity subject to section 14-7423.

(e)An asset subject to section 14-7424.

(f)Any asset for wh

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A. A trustee shall allocate to income ten per cent of the receipts from a liquidating asset and the balance to principal.

B. For the purposes of this section, "liquidating asset":

1. Means an asset whose value will diminish or terminate because the asset is expected to produce receipts for a period of limited duration.

2. Includes a leasehold, patent, copyright, royalty right and right to receive payments during a period of more than one year under an arrangement that does not provide for the payment of interest on the unpaid balance.

3. Does not include:

(a) A payment subject to section 14-7418.

(b) Resources subject to section 14-7420.

(c) Timber subject to section 14-7421.

(d) An activity subject to section 14-7423.

(e) An asset subject to section 14-7424.

(f) Any asset for which the trustee establishes a reserve for depreciation under section 14-7427.