{"data":{"id":"us-md/md.-code-estates-and-trusts-15-525","jurisdiction":"us-md","citation":"Md. Code, Estates and Trusts § 15–525","heading":"","body":"(a) In this section, “depreciation” means a reduction in value due to wear, tear, decay, corrosion, or gradual obsolescence of a fixed asset having a useful life of more than 1 year.\n(b) A trustee may transfer to principal a reasonable amount of the net cash receipts from a principal asset that is subject to depreciation, but may not transfer any amount for depreciation:\n(1) Of that portion of real property used or available for use by a beneficiary as a residence or of tangible personal property held or made available for the personal use or enjoyment of a beneficiary;\n(2) During the administration of a decedent’s estate; or\n(3) Under this section if the trustee is accounting under § 15-510 of this subtitle for the business or activity in which the asset is used.\n(c) An amount transferred to principal need not be held as a separate fund.","path":["Article - Estates and Trusts"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=get\u0026section=15-525","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:58:07Z","sha256":"0b36c5e78673e54250f3f81d540b5f03b45e2e50de820dd6d21acdd1f98ba3e3","source_id":"us-md","stale":false,"prev":"us-md/md.-code-estates-and-trusts-15-524","next":"us-md/md.-code-estates-and-trusts-15-526"},"notice":"GroundRules: Original legal text. Not legal advice."}