{"data":{"id":"us-sc/s.c.-code-ann.-62-7-927","jurisdiction":"us-sc","citation":"S.C. Code Ann. § 62-7-927","heading":"Transfer to principal of cash receipts from asset subject to depreciation.","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 one 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 pursuant to Section 62-7-912 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":["Title 62 - SOUTH CAROLINA PROBATE CODE","ARTICLE 7 South Carolina Trust Code","Part 9 South Carolina Uniform Principal and Income Act"],"source_url":"https://www.scstatehouse.gov/code/t62c007.php","current_through":"2025 Session of the General Assembly","vintage":"","retrieved_at":"2026-09-02T08:08:54Z","sha256":"09c672787fbb493549d2ba23ad944aeed02583bdf9948f244eaff8a8323d84f3","source_id":"us-sc","stale":false,"prev":"us-sc/s.c.-code-ann.-62-7-926","next":"us-sc/s.c.-code-ann.-62-7-928"},"notice":"GroundRules: Original legal text. Not legal advice."}