New York § 11-A-5.3 Transfers from income to principal for depreciation

New York Statutes

§ 11-A-5.3 — Transfers from income to principal for depreciation

New York § 11-A-5.3

Law EPTEstates, Powers & Trusts

Part 5Allocation of Disbursements During Administration of Trust

Art. 11-AUniform Principal and Income Act

This text of New York § 11-A-5.3 (Transfers from income to principal for depreciation) is published on Counsel Stack Legal Research, covering New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.Y. Estates, Powers & Trusts § 11-A-5.3 (2026).

Text

§ 11-A-5.3 Transfers from income to principal for depreciation\n  (a) In this section, "depreciation" means a reduction in value due to\nwear, tear, decay, corrosion, or gradual obsolescence of a fixed asset\nhaving a useful life of more than one year.\n  (b) A trustee may transfer to principal a reasonable amount of the net\ncash receipts from a principal asset that is subject to depreciation,\nbut may not transfer any amount for depreciation:\n  (1) of that portion of real property used or available for use by a\nbeneficiary as a residence or of tangible personal property held or made\navailable for the personal use or enjoyment of a beneficiary;\n  (2) during the administration of a decedent's estate; or\n  (3) under this section if the trustee is accounting under 11-A-4.3 for\nthe busi

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§ 11-A-5.3 Transfers from income to principal for depreciation\n (a) In this section, "depreciation" means a reduction in value due to\nwear, tear, decay, corrosion, or gradual obsolescence of a fixed asset\nhaving a useful life of more than one year.\n (b) A trustee may transfer to principal a reasonable amount of the net\ncash receipts from a principal asset that is subject to depreciation,\nbut may not transfer any amount for depreciation:\n (1) of that portion of real property used or available for use by a\nbeneficiary as a residence or of tangible personal property held or made\navailable for the personal use or enjoyment of a beneficiary;\n (2) during the administration of a decedent's estate; or\n (3) under this section if the trustee is accounting under 11-A-4.3 for\nthe business or activity in which the asset is used.\n (c) An amount transferred to principal need not be held as a separate\nfund.\n