New Hampshire Statutes
§ 564-C:4-410 — Liquidating Asset
New Hampshire·Title LVI PROBATE COURTS AND DECEDENTS' ESTATES·Ch. 564-C UNIFORM PRINCIPAL AND INCOME ACT·Subdivision Part 3Receipts Normally Apportioned
(a)In this section, "liquidating asset" means an asset whose value will diminish or terminate because the asset is expected to produce receipts for a period of limited duration. The term includes a leasehold, patent, copyright, royalty right, and right to receive payments under an arrangement that does not provide for the payment of interest on the unpaid balance. The term does not include a payment subject to RSA 564-C:4-409, resources subject to RSA 564-C:4-411, timber subject to RSA 564-C:4-412, an activity subject to RSA 564-C:4-414, an asset subject to RSA 564-C:4-415, or any asset for which the trustee establishes a reserve for depreciation under RSA 564-C:5-503.
(b)A trustee shall allocate to income 10 percent of the receipts from a liquidating asset and the balance to principal.
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Legislative History
2006, 320:68, eff. Aug. 19, 2006.
Nearby Sections
15
§ 564-C:1-101
Short Title§ 564-C:1-102
Definitions§ 564-C:1-103
Fiduciary Duties; General Principles§ 564-C:1-104
Trustee's Power to Adjust§ 564-C:1-105
Judicial Control of Discretionary Power§ 564-C:1-106
Trustee's Power to Convert to Unitrust§ 564-C:1-107
Creation of Total Return Unitrust§ 564-C:2-201
Determination and Distribution of Net Income§ 564-C:3-301
When Right to Income Begins and Ends§ 564-C:3-302
Apportionment of Receipts and Disbursements When Decedent Dies or Income Interest Begins§ 564-C:3-303
Apportionment When Income Interest Ends§ 564-C:4-401
Character of Receipts§ 564-C:4-402
Distribution from Trust or Estate§ 564-C:4-403
Business and Other Activities Conducted by Trustee