New York § 11-A-4.10 Liquidating asset

New York Statutes

§ 11-A-4.10 — Liquidating asset

New York § 11-A-4.10

JurisdictionNew York

Law EPTEstates, Powers & Trusts

Part 4Allocation of Receipts During Administration of Trust

Subpart 3Receipts Normally Apportioned

Art. 11-AUniform Principal and Income Act

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Bluebook

N.Y. Estates, Powers & Trusts § 11-A-4.10 (2026).

Text

§ 11-A-4.10 Liquidating asset\n  (a) In this section, "liquidating asset" means an asset whose value\nwill diminish or terminate because the asset is expected to produce\nreceipts for a period of limited duration. The term includes a\nleasehold, patent, copyright, royalty right, and right to receive\npayments during a period of more than one year under an arrangement that\ndoes not provide for the payment of interest on the unpaid balance. The\nterm does not include a payment subject to 11-A-4.9, resources subject\nto 11-A-4.11, timber subject to 11-A-4.12, an activity subject to\n11-A-4.14, an asset subject to 11-A-4.15, or any asset for which the\ntrustee establishes a reserve for depreciation under 11-A-5.3.\n  (b) A trustee shall allocate to income ten percent of the receipts\nfrom a l

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§ 11-A-4.10 Liquidating asset\n (a) In this section, "liquidating asset" means an asset whose value\nwill diminish or terminate because the asset is expected to produce\nreceipts for a period of limited duration. The term includes a\nleasehold, patent, copyright, royalty right, and right to receive\npayments during a period of more than one year under an arrangement that\ndoes not provide for the payment of interest on the unpaid balance. The\nterm does not include a payment subject to 11-A-4.9, resources subject\nto 11-A-4.11, timber subject to 11-A-4.12, an activity subject to\n11-A-4.14, an asset subject to 11-A-4.15, or any asset for which the\ntrustee establishes a reserve for depreciation under 11-A-5.3.\n (b) A trustee shall allocate to income ten percent of the receipts\nfrom a liquidating asset and the balance to principal.\n