California § 731.03. 731.03. (Added by Stats. 1968, Ch. 193.)

California Statutes

§ 731.03. — 731.03. (Added by Stats. 1968, Ch. 193.)

California § 731.03.

JurisdictionCalifornia

Code CIVCivil Code - CIV

Div. 2.DIVISION 2. PROPERTY

Title2.

Part 1.TITLE 2. OWNERSHIP

Ch. 2.6.CHAPTER 2.6. Legal Estates Principal and Income Law

This text of California § 731.03. (731.03. (Added by Stats. 1968, Ch. 193.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Cal. Civil Code - CIV Code § 731.03. (2026).

Text

(a)“Principal” as used in this chapter means any realty or personalty which has been so set aside or limited by the owner thereof or a person thereto legally empowered that it and any substitutions for it are eventually to be conveyed, delivered, or paid to a person, while the return therefrom or use thereof or any part of such return or use is in the meantime to be taken or received by or held for accumulation for the same or another person;

(b)“Income” as used in this chapter means the return derived from principal;

(c)“Tenant” as used in this chapter means the person to whom income is presently or currently payable, or for whom it is accumulated or who is entitled to the beneficial use of the principal presently and for a time prior to its distribution;

(d)“Remainderman” as used in

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(a)
“Principal” as used in this chapter means any realty or personalty which has been so set aside or limited by the owner thereof or a person thereto legally empowered that it and any substitutions for it are eventually to be conveyed, delivered, or paid to a person, while the return therefrom or use thereof or any part of such return or use is in the meantime to be taken or received by or held for accumulation for the same or another person;
(b)
“Income” as used in this chapter means the return derived from principal;
(c)
“Tenant” as used in this chapter means the person to whom income is presently or currently payable, or for whom it is accumulated or who is entitled to the beneficial use of the principal presently and for a time prior to its distribution;
(d)
“Remainderman” as used in this chapter means the person ultimately entitled to the principal, whether named or designated by the terms of the transaction by which the principal was established or determined by operation of law.