Indiana § 30-2-14-27 Rental property receipts

Indiana Statutes

§ 30-2-14-27 — Rental property receipts

Indiana § 30-2-14-27

Art. 2GENERAL PROVISIONS

Ch. 14Uniform Principal and Income Act

This text of Indiana § 30-2-14-27 (Rental property receipts) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 30-2-14-27 (2026).

Text

To the extent that a trustee accounts for
receipts from rental property under 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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To the extent that a trustee accounts for
receipts from rental property under 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.