{"data":{"id":"us-ca/prob-16349","jurisdiction":"us-ca","citation":"PROB § 16349","heading":"","body":"(a) For purposes of this section, “liquidating asset” means an asset whose value will diminish or terminate because the asset is expected to produce receipts for a limited time. The term 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(b) This section does not apply to a receipt subject to Section 16340, 16348, 16350, 16351, 16353, 16354, 16355, or 16362.\n(c) A fiduciary shall make allocations in the following manner:\n(1) To income:\n(A) A receipt produced by a liquidating asset, to the extent the receipt does not exceed 4 percent of the value of the asset.\n(B) If the fiduciary cannot determine the value of the asset, 10 percent of the receipt.\n(2) To principal, the balance of the receipt.","path":["Probate Code - PROB","DIVISION 9. TRUST LAW [15000. - 19530.]","PART 4. TRUST ADMINISTRATION [16000. - 16632.]","CHAPTER 3. Uniform Fiduciary Income and Principal Act [16320. - 16383.]","ARTICLE 4. Allocation of Receipts [16340. - 16355.]"],"source_url":"https://downloads.leginfo.legislature.ca.gov/pubinfo_2025.zip","current_through":"2026-09-13","vintage":"","retrieved_at":"2026-09-14T05:56:33Z","sha256":"a1385a6a3a3dd07d289b18dd9bd9b9b07bcb833074141f85bb1c32773e6971c2","source_id":"us-ca","stale":false,"prev":"us-ca/prob-16348","next":"us-ca/prob-16350"},"notice":"GroundRules: Original legal text. Not legal advice."}