{"data":{"id":"us-ok/okla.-stat.-tit.-60-60-175.412","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 60, § 60-175.412","heading":"Timber","body":"TIMBER\n\nA. To the extent that a trustee accounts for receipts from the\n\nsale of timber and related products pursuant to this section, the\n\ntrustee shall allocate the net receipts:\n\n1. To income to the extent that the amount of timber removed\n\nfrom the land does not exceed the estimated rate of growth of the\n\ntimber during the accounting periods in which a beneficiary has a\n\nmandatory income interest;\n\n2. To principal to the extent that the amount of timber removed\n\nfrom the land exceeds the estimated rate of growth of the timber or\n\nthe net receipts are from the sale of standing timber;\n\n3. To or between income and principal if the net receipts are\n\nfrom the lease of timberland or from a contract to cut timber from\n\nland owned by a trust, by determining the amount of timber removed\n\nfrom the land under the lease or contract and applying the rules in\n\nparagraphs 1 and 2 of this subsection; or\n\n4. To principal to the extent that advance payments, bonuses,\n\nand other payments are not allocated pursuant to paragraph 1, 2, or\n\n3 of this subsection.\n\nB. In determining net receipts to be allocated pursuant to\n\nsubsection A of this section, a trustee may deduct and transfer to\n\nprincipal a reasonable amount for depletion.\n\nC. This act applies whether or not a decedent or transferor was\n\nharvesting timber from the property before it became subject to the\n\ntrust.\n\nD. If a trust exists on the effective date of this act, the\n\ntrustee may allocate receipts from an interest in timber as provided\n\nin this act or in the manner used by the trustee before the\n\neffective date of this act. For every trust created after the\n\neffective date of this act, the trustee shall allocate receipts from\n\nan interest in timber as provided in this act. If and to the extent\n\nthat the terms of a trust expressly provide for a different\n\nallocation of receipts or grants the trustee discretionary authority\n\nto determine the amount of the allocation, this act shall not apply\n\nto those receipts.","path":["OK Code","Title 60"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os60.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"acc6f027412b768b4aba98e1f758346a823d04811ce198a1c176ba60e34f993b","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-60-60-175.411","next":"us-ok/okla.-stat.-tit.-60-60-175.413"},"notice":"GroundRules: Original legal text. Not legal advice."}