{"data":{"id":"us-me/18-c-m.r.s.-7-464","jurisdiction":"us-me","citation":"18-C M.R.S. §7-464","heading":"Transfers from income to reimburse principal","body":"1.  Transfer to reimburse or provide reserve.  If a trustee makes or expects to make a principal disbursement described in this section, the trustee may transfer an appropriate amount from income to principal in one or more accounting periods to reimburse principal or to provide a reserve for future principal disbursements.\n2.  Applicable principal disbursement.  Principal disbursements to which subsection 1 applies include the following, but only to the extent that the trustee has not been and does not expect to be reimbursed by a 3rd party:\nA.  An amount chargeable to income but paid from principal because it is unusually large, including extraordinary repairs;\nB.  A capital improvement to a principal asset, whether in the form of changes to an existing asset or the construction of a new asset, including special assessments;\nC.  Disbursements made to prepare property for rental, including tenant allowances, leasehold improvements and broker's commissions;\nD.  Periodic payments on an obligation secured by a principal asset to the extent that the amount transferred from income to principal for depreciation is less than the periodic payments; and\nE.  Disbursements described in section 7‑462, subsection 1, paragraph G.\n3.  Successive income interest.  If the asset whose ownership gives rise to the disbursements becomes subject to a successive income interest after an income interest ends, a trustee may continue to transfer amounts from income to principal as provided in subsection 1.","path":["TITLE 18-C: PROBATE CODE","PART 4: UNIFORM PRINCIPAL AND INCOME ACT OF 1997"],"source_url":"https://legislature.maine.gov/statutes/18-C/title18-Csec7-464.html","current_through":"October 1, 2025","vintage":"","retrieved_at":"2026-09-04T15:12:29Z","sha256":"e508ec02d968de9845d12cc65c016b0f2ae5d91fc05dc30a1207efe40235d011","source_id":"us-me","stale":false,"prev":"us-me/18-c-m.r.s.-7-463","next":"us-me/18-c-m.r.s.-7-465"},"notice":"GroundRules: Original legal text. Not legal advice."}