Colorado § 15-1.2-412 Timber

Colorado Statutes

§ 15-1.2-412 — Timber

Colorado § 15-1.2-412

Title 15Probate,

Art.Uniform Fiduciary Income and Principal Act

This text of Colorado § 15-1.2-412 (Timber) is published on Counsel Stack Legal Research, covering Colorado primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Colo. Rev. Stat. § 15-1.2-412 (2026).

Text

(1)To the extent a fiduciary does not account for receipts from the sale of timber and related products as a business under section 15-1.2-403, the fiduciary shall allocate the net receipts:

(a)To income, to the extent the amount of timber cut from the land does not exceed the rate of growth of the timber;

(b)To principal, to the extent the amount of timber cut from the land exceeds the rate of growth of the timber or the net receipts are from the sale of standing timber;

(c)Between income and principal if the net receipts are from the lease of land used for growing and cutting timber or from a contract to cut timber from land, by determining the amount of timber cut from the land under the lease or contract and applying the rules in subsections (1)(a) and (1)(b) of this sec

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(1) To the extent a fiduciary does not account for
receipts from the sale of timber and related products as a business under section
15-1.2-403, the fiduciary shall allocate the net receipts:

(a) To income, to the extent the amount of timber cut from the land does not
exceed the rate of growth of the timber;

(b) To principal, to the extent the amount of timber cut from the land
exceeds the rate of growth of the timber or the net receipts are from the sale of
standing timber;

(c) Between income and principal if the net receipts are from the lease of
land used for growing and cutting timber or from a contract to cut timber from land,
by determining the amount of timber cut from the land under the lease or contract
and applying the rules in subsections (1)(a) and (1)(b) of this section; or

(d) To principal, to the extent advance payments, bonuses, and other
payments are not allocated under subsection (1)(a), (1)(b), or (1)(c) of this section.

(2) In determining net receipts to be allocated under subsection (1) of this
section, a fiduciary shall deduct and transfer to principal a reasonable amount for
depletion.

(3) This section applies to land owned or held by a fiduciary whether or not a
settlor was cutting timber from the land before the fiduciary owned or held the
property.

(4) If a fiduciary owns or holds an interest in land used for growing and
cutting timber before January 1, 2022, the fiduciary may allocate net receipts from
the sale of timber and related products as provided in this section or in the manner
used by the fiduciary before January 1, 2022. If the fiduciary acquires an interest in
land used for growing and cutting timber on or after January 1, 2022, the fiduciary
shall allocate net receipts from the sale of timber and related products as provided
in this section.