{"data":{"id":"us-tx/tex.-property-code-116.161","jurisdiction":"us-tx","citation":"Tex. Property Code § 116.161","heading":"PRINCIPAL RECEIPTS.","body":"A trustee shall allocate to principal:\n(1) to the extent not allocated to income under this chapter, assets received from a transferor during the transferor's lifetime, a decedent's estate, a trust with a terminating income interest, or a payer under a contract naming the trust or its trustee as beneficiary;\n(2) money or other property received from the sale, exchange, liquidation, or change in form of a principal asset, including realized profit, subject to this subchapter;\n(3) amounts recovered from third parties to reimburse the trust because of disbursements described in Section 116.202(a)(7) or for other reasons to the extent not based on the loss of income;\n(4) proceeds of property taken by eminent domain, but a separate award made for the loss of income with respect to an accounting period during which a current income beneficiary had a mandatory income interest is income;\n(5) net income received in an accounting period during which there is no beneficiary to whom a trustee may or must distribute income; and\n(6) other receipts as provided in Part 3.\nAdded by Acts 2003, 78th Leg., ch. 659, Sec. 1, eff. Jan. 1, 2004.","path":["PROPERTY CODE","TITLE 9. TRUSTS","SUBTITLE B. TEXAS TRUST CODE: CREATION, OPERATION, AND TERMINATION OF TRUSTS","CHAPTER 116. UNIFORM PRINCIPAL AND INCOME ACT","SUBCHAPTER D. ALLOCATION OF RECEIPTS DURING ADMINISTRATION OF TRUST"],"source_url":"https://statutes.capitol.texas.gov/Docs/PR/htm/PR.116.htm#116.161","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:37Z","sha256":"cd19458502482485a5822ecc6bd2cbe73c307c160e784fba9af3a7cb47f772e3","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-property-code-116.153","next":"us-tx/tex.-property-code-116.162"},"notice":"GroundRules: Original legal text. Not legal advice."}