Nevada § 164.870 Allocation of receipts from liquidating assets to income and principal

Nevada Statutes

§ 164.870 — Allocation of receipts from liquidating assets to income and principal

Nevada § 164.870

Title 13GUARDIANSHIPS; CONSERVATORSHIPS; TRUSTS

Ch. 164Administration

Principal and Income (Uniform Act)

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Bluebook

Nev. Rev. Stat. § 164.870 (2026).

Text

1.As used 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 during a period of more than 1 year 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 NRS 164.865 , resources subject to NRS 164.875 , timber subject to NRS 164.880 , an activity subject to NRS 164.890 , an asset subject to NRS 164.895 , or any asset for which the trustee establishes a reserve for depreciation under NRS 164.910 .

2.A trustee shall allocate to income 10 percent of the receipts from a liquidating asset and the

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1. As used 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 during a period of more than 1 year 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 NRS 164.865 , resources subject to NRS 164.875 , timber subject to NRS 164.880 , an activity subject to NRS 164.890 , an asset subject to NRS 164.895 , or any asset for which the trustee establishes a reserve for depreciation under NRS 164.910 .
2. A trustee shall allocate to income 10 percent of the receipts from a liquidating asset and the balance to principal.