California Probate Code

§ 16351

PROB § 16351 Effective Jan 1, 2024Div. 9 · Part 4 · Ch. 3 · Art. 4

Statute text

(a)To the extent a fiduciary does not account for receipts from the sale of timber and related products as a business under Section 16342, the fiduciary shall allocate the net receipts:

(1)To income, to the extent the amount of timber cut from the land does not exceed the rate of growth of the timber.

(2)To principal, to the extent the amount of timber cut from the land exceeds the rate of growth of the timber or the net receipts are from the sale of standing timber.

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Legislative history

Repealed and added by Stats. 2023, Ch. 28, Sec. 2. (SB 522) Effective January 1, 2024.