Florida § 738.410 Liquidating asset

Florida Statutes

§ 738.410 — Liquidating asset

Florida § 738.410

TitleXLII

Ch. 738UNIFORM FIDUCIARY INCOME AND PRINCIPAL ACT

This text of Florida § 738.410 (Liquidating asset) is published on Counsel Stack Legal Research, covering Florida primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Fla. Stat. § 738.410 (2026).

Text

(1)As used in this section, the term “liquidating asset” means an asset whose value will diminish or terminate because the asset is expected to produce receipts for a limited time. The term includes a leasehold, patent, copyright, royalty right, and right to receive payments during a period of more than 1 year under an arrangement that does not provide for the payment of interest on the unpaid balance.

(2)This section does not apply to a receipt that is subject to s. 738.401, s. 738.409, s. 738.411, s. 738.412, s. 738.414, s. 738.415, s. 738.416, or s. 738.503.

(3)A fiduciary shall allocate to income a receipt produced by a liquidating asset to the extent that the receipt does not exceed 5 percent of the carrying value of the asset at the beginning of the accounting period and allocat

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

(1) As used in this section, the term “liquidating asset” means an asset whose value will diminish or terminate because the asset is expected to produce receipts for a limited time. The term includes a leasehold, patent, copyright, royalty right, and right to receive payments during a period of more than 1 year under an arrangement that does not provide for the payment of interest on the unpaid balance.

(2) This section does not apply to a receipt that is subject to s. 738.401, s. 738.409, s. 738.411, s. 738.412, s. 738.414, s. 738.415, s. 738.416, or s. 738.503.

(3) A fiduciary shall allocate to income a receipt produced by a liquidating asset to the extent that the receipt does not exceed 5 percent of the carrying value of the asset at the beginning of the accounting period and allocate to principal the balance of the receipt.

(4) The amount allocated to principal shall reduce the carrying value of the liquidating asset, but not below zero. Amounts received in excess of the remaining carrying value must be allocated to principal.