California § 731.04. 731.04. (Added by Stats. 1968, Ch. 193.)

California Statutes

§ 731.04. — 731.04. (Added by Stats. 1968, Ch. 193.)

California § 731.04.

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 § 731.04. (731.04. (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 § 731.04. (2026).

Text

This chapter shall govern the ascertainment of income and principal and the apportionment of receipts and expenses between tenants and remaindermen in all cases where a principal has been established without the interposition of a trust, except that in the establishment of the principal, provision may be made touching all matters covered by this chapter, and the person establishing the principal may himself direct the manner of ascertainment of income and principal and the apportionment of receipts and expenses or grant discretion to the tenant or other person to do so, and such provision and direction, where not otherwise contrary to law shall control notwithstanding
this chapter. The exercise by the tenant or other designated person, of such discretionary power if in good faith and accor

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This chapter shall govern the ascertainment of income and principal and the apportionment of receipts and expenses between tenants and remaindermen in all cases where a principal has been established without the interposition of a trust, except that in the establishment of the principal, provision may be made touching all matters covered by this chapter, and the person establishing the principal may himself direct the manner of ascertainment of income and principal and the apportionment of receipts and expenses or grant discretion to the tenant or other person to do so, and such provision and direction, where not otherwise contrary to law shall control notwithstanding
this chapter. The exercise by the tenant or other designated person, of such discretionary power if in good faith and according to his best judgment, shall be conclusive, irrespective of whether it may be in accordance with the determination which the court having jurisdiction would have made.