Idaho Statutes
§ 68-10-405 — RENTAL PROPERTY
Idaho·Title 68 TRUSTS AND FIDUCIARIES·Part 4. ALLOCATION OF RECEIPTS DURING ADMINISTRATION OF TRUST·Ch. 10 UNIFORM PRINCIPAL AND INCOME ACT
To the extent that a trustee accounts for receipts from rental property pursuant to this section, the trustee shall allocate to income an amount received as rent of real or personal property, including an amount received for cancellation or renewal of a lease. An amount received as a refundable deposit, including a security deposit or a deposit that is to be applied as rent for future periods, must be added to principal and held subject to the terms of the lease and is not available for distribution to a beneficiary until the trustee’s contractual obligations have been satisfied with respect to that amount.
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Idaho § 68-10-405 (RENTAL PROPERTY) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
[68-10-405, added 2001, ch. 261, sec. 2, p. 954.]
Nearby Sections
15
§ 68-10-101
SHORT TITLE§ 68-10-102
DEFINITIONS§ 68-10-103
FIDUCIARY DUTIES — GENERAL PRINCIPLES§ 68-10-104
TRUSTEE’S POWER TO ADJUST§ 68-10-105
NOTICE OF PROPOSED ACTION§ 68-10-201
DETERMINATION AND DISTRIBUTION OF NET INCOME§ 68-10-301
WHEN RIGHT TO INCOME BEGINS AND ENDS§ 68-10-303
APPORTIONMENT WHEN INCOME INTEREST ENDS§ 68-10-401
CHARACTER OF RECEIPTS§ 68-10-402
DISTRIBUTION FROM TRUST OR ESTATE§ 68-10-404
PRINCIPAL RECEIPTS§ 68-10-405
RENTAL PROPERTY