Montana § 72-34-437 Amounts Received From Rental Property Allocation

Montana Statutes

§ 72-34-437 — Amounts Received From Rental Property Allocation

Montana·Title 72 ESTATES, TRUSTS, AND FIDUCIARY RELATIONSHIPS·Ch. 34 PRINCIPAL AND INCOME·Part 4 Montana Uniform Principal and Income Act

72-34-437 . Amounts received from rental property allocation. Unless the trustee accounts for receipts from rental property pursuant to 72-34-435 , 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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72-34-437 . Amounts received from rental property allocation. Unless the trustee accounts for receipts from rental property pursuant to 72-34-435 , 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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