Indiana Statutes
§ 30-2-14-27 — Rental property receipts
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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Legislative History
As added by P.L.84-2002, SEC.2.
Nearby Sections
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Definitions