{"data":{"id":"us-ny/n.y.-estates-powers-trusts-law-11-a-4.10","jurisdiction":"us-ny","citation":"N.Y. Estates, Powers \u0026 Trusts Law § 11-a-4.10","heading":"Liquidating asset","body":"§ 11-A-4.10 Liquidating asset\n  (a) In this section, \"liquidating asset\" means an asset whose value\nwill diminish or terminate because the asset is expected to produce\nreceipts for a period of limited duration. The term includes a\nleasehold, patent, copyright, royalty right, and right to receive\npayments during a period of more than one year under an arrangement that\ndoes not provide for the payment of interest on the unpaid balance. The\nterm does not include a payment subject to 11-A-4.9, resources subject\nto 11-A-4.11, timber subject to 11-A-4.12, an activity subject to\n11-A-4.14, an asset subject to 11-A-4.15, or any asset for which the\ntrustee establishes a reserve for depreciation under 11-A-5.3.\n  (b) A trustee shall allocate to income ten percent of the receipts\nfrom a liquidating asset and the balance to principal.","path":["Estates, Powers \u0026 Trusts Law","Article 11-A. Uniform Principal and Income Act","Part 4. Allocation of Receipts During Administration of Trust","Subpart 3. Receipts Normally Apportioned"],"source_url":"https://legislation.nysenate.gov/api/3/laws/EPT/11-A-4.10","current_through":"2026-09-11","vintage":"","retrieved_at":"2026-09-14T19:32:44Z","sha256":"1b9c32b0ab25db7c9c98decacc5d7f87012b7f3cfb15a660f288c08872251e39","source_id":"us-ny","stale":false,"prev":"us-ny/n.y.-estates-powers-trusts-law-11-a-4.9","next":"us-ny/n.y.-estates-powers-trusts-law-11-a-4.11"},"notice":"GroundRules: Original legal text. Not legal advice."}