{"data":{"id":"us-ga/o.c.g.a.-53-12-426","jurisdiction":"us-ga","citation":"O.C.G.A. § 53-12-426","heading":"Liquidating asset.","body":"(a) As used in this Code section, the term “liquidating asset” means an asset whose value will diminish or terminate because such asset is expected to produce receipts for a period of limited duration. Such 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. Such term shall not include a payment subject to Code Section 53-12-425, resources subject to Code Section 53-12-427, timber subject to Code Section 53-12-428, an activity subject to Code Section 53-12-430, an asset subject to Code Section 53-12-431, or any asset for which the trustee establishes a reserve for depreciation under Code Section 53-12-452.\n(b) A trustee shall allocate to income 10 percent of the receipts from a liquidating asset and the balance to principal.","path":["TITLE 53 Wills, Trusts, and Administration of Estates","CHAPTER 12 Trusts","Article 17 Georgia Principal and Income Act","PART 4 Allocation of Receipts During Administration of Trust","Subpart 2 Receipts Not Normally Apportioned"],"source_url":"https://archive.org/download/gov.ga.ocga.2018/release86.2022.11/gov.ga.ocga.title.53.odt","current_through":"Release 86 (2022-11)","vintage":"Public.Resource.Org bulk O.C.G.A., Release 86 (2022-11), retrieved 2026-09-17","retrieved_at":"2026-09-17T19:34:58Z","sha256":"66453612f95ed55101e4d6048ecfca3e5f65f45ce56ed9573308fb348800e77b","source_id":"us-ga","stale":false,"prev":"us-ga/o.c.g.a.-53-12-425","next":"us-ga/o.c.g.a.-53-12-427"},"notice":"GroundRules: Original legal text. Not legal advice."}