{"data":{"id":"us-ny/n.y.-estates-powers-trusts-law-11-a-5.3","jurisdiction":"us-ny","citation":"N.Y. Estates, Powers \u0026 Trusts Law § 11-a-5.3","heading":"Transfers from income to principal for depreciation","body":"§ 11-A-5.3 Transfers from income to principal for depreciation\n  (a) In this section, \"depreciation\" means a reduction in value due to\nwear, tear, decay, corrosion, or gradual obsolescence of a fixed asset\nhaving a useful life of more than one year.\n  (b) A trustee may transfer to principal a reasonable amount of the net\ncash receipts from a principal asset that is subject to depreciation,\nbut may not transfer any amount for depreciation:\n  (1) of that portion of real property used or available for use by a\nbeneficiary as a residence or of tangible personal property held or made\navailable 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 11-A-4.3 for\nthe business or activity in which the asset is used.\n  (c) An amount transferred to principal need not be held as a separate\nfund.","path":["Estates, Powers \u0026 Trusts Law","Article 11-A. Uniform Principal and Income Act","Part 5. Allocation of Disbursements During Administration of Trust"],"source_url":"https://legislation.nysenate.gov/api/3/laws/EPT/11-A-5.3","current_through":"2026-09-11","vintage":"","retrieved_at":"2026-09-14T19:32:44Z","sha256":"b04cee50df58a03879a180ad8ba5556e930cbbcc229a801d7aa242f5b9314082","source_id":"us-ny","stale":false,"prev":"us-ny/n.y.-estates-powers-trusts-law-11-a-5.2","next":"us-ny/n.y.-estates-powers-trusts-law-11-a-5.4"},"notice":"GroundRules: Original legal text. Not legal advice."}