Florida § 738.504 Reimbursement of income from principal

Florida Statutes

§ 738.504 — Reimbursement of income from principal

Florida § 738.504

TitleXLII

Ch. 738UNIFORM FIDUCIARY INCOME AND PRINCIPAL ACT

This text of Florida § 738.504 (Reimbursement of income from principal) 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. § 738.504 (2026).

Text

(1)If a fiduciary makes or expects to make an income disbursement described in subsection (2), the fiduciary may transfer an appropriate amount from principal to income in one or more accounting periods to reimburse income.

(2)To the extent that the fiduciary has not been and does not expect to be reimbursed by a third party, income disbursements to which subsection (1) applies include:

(a)An amount chargeable to principal but paid from income because principal is illiquid;

(b)A disbursement made to prepare property for sale, including improvements and commissions; and (c) A disbursement described in s. 738.502(1).

(3)If an asset whose ownership gives rise to an income disbursement becomes subject to a successive interest after an income interest ends, the fiduciary may continue to

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(1) If a fiduciary makes or expects to make an income disbursement described in subsection (2), the fiduciary may transfer an appropriate amount from principal to income in one or more accounting periods to reimburse income.

(2) To the extent that the fiduciary has not been and does not expect to be reimbursed by a third party, income disbursements to which subsection (1) applies include: (a) An amount chargeable to principal but paid from income because principal is illiquid; (b) A disbursement made to prepare property for sale, including improvements and commissions; and (c) A disbursement described in s. 738.502(1).

(3) If an asset whose ownership gives rise to an income disbursement becomes subject to a successive interest after an income interest ends, the fiduciary may continue to make transfers under subsection (1).