{"data":{"id":"us-md/md.-code-estates-and-trusts-15-511","jurisdiction":"us-md","citation":"Md. Code, Estates and Trusts § 15–511","heading":"","body":"A trustee shall allocate to principal:\n(1) To the extent not allocated to income under this subtitle, assets received from a transferor during the transferor’s lifetime, a decedent’s estate, a trust with a terminating income interest, or a payer under a contract naming the trust or its trustee as beneficiary;\n(2) Money or other property received from the sale, exchange, liquidation, or change in form of a principal asset, including realized profit, subject to this subtitle;\n(3) Amounts recovered from third parties to reimburse the trust because of disbursements described in § 15–524(a)(7) of this subtitle or for other reasons to the extent not based on the loss of income;\n(4) Proceeds of property taken by eminent domain, but a separate award made for the loss of income with respect to an accounting period during which a current income beneficiary had a mandatory income interest is income;\n(5) Net income received in an accounting period during which there is no beneficiary to whom a trustee may or must distribute income; and\n(6) Other receipts as provided in Part III of this subtitle.","path":["Article - Estates and Trusts"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=get\u0026section=15-511","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:58:07Z","sha256":"d014ecb51a484b1b98bac5c98236362f32f530e5c5d094b2b1cdd3e37606c78c","source_id":"us-md","stale":false,"prev":"us-md/md.-code-estates-and-trusts-15-510","next":"us-md/md.-code-estates-and-trusts-15-512"},"notice":"GroundRules: Original legal text. Not legal advice."}