{"data":{"id":"us-az/a.r.s.-14-7419","jurisdiction":"us-az","citation":"A.R.S. § 14-7419","heading":"Liquidating assets; definition","body":"A. A trustee shall allocate to income ten per cent of the receipts from a liquidating asset and the balance to principal.\n\nB. For the purposes of this section, \"liquidating asset\":\n\n1. Means an asset whose value will diminish or terminate because the asset is expected to produce receipts for a period of limited duration.\n\n2. Includes a leasehold, patent, copyright, royalty right and right to receive payments during a period of more than one year under an arrangement that does not provide for the payment of interest on the unpaid balance.\n\n3. Does not include:\n\n(a) A payment subject to section 14-7418.\n\n(b) Resources subject to section 14-7420.\n\n(c) Timber subject to section 14-7421.\n\n(d) An activity subject to section 14-7423.\n\n(e) An asset subject to section 14-7424.\n\n(f) Any asset for which the trustee establishes a reserve for depreciation under section 14-7427.","path":["Title 14 Trusts, Estates and Protective Proceedings"],"source_url":"https://www.azleg.gov/ars/14/07419.htm","current_through":"2026-09-04","vintage":"2026-08-09","retrieved_at":"2026-09-04T00:49:56Z","sha256":"345a5dc0dfee6aff1bb5317d07e7cd0d35e00a4e0006ecef59f32e7f0917ed3c","source_id":"us-az","stale":true,"prev":"us-az/a.r.s.-14-7418","next":"us-az/a.r.s.-14-7420"},"notice":"GroundRules: Original legal text. Not legal advice."}