18-C §7-451. Minerals, water and other natural resources
§7-451. Minerals, water and other natural resources 1. Allocation of receipts. To the extent that a trustee accounts for receipts from an interest in minerals or other natural resources pursuant to this section, the trustee shall allocate them as follows: A. If received as nominal delay rental or nominal annual rent on a lease, […]
18-C §7-452. Timber
§7-452. Timber 1. Allocation of net receipts. To the extent that a trustee accounts for receipts from the sale of timber and related products pursuant to this section, the trustee shall allocate the net receipts: A. To income to the extent the net receipts do not exceed the product of mean annual growth multiplied […]
18-C §7-453. Property not productive of income
§7-453. Property not productive of income 1. Income to obtain marital deduction. If a marital deduction is allowed for all or part of a trust whose assets consist substantially of property that does not provide the spouse with sufficient income from or use of the trust assets, and if the amounts that the trustee transfers […]
18-C §7-441. Character of receipts
§7-441. Character of receipts 1. Entity. As used in this section, “entity” means a corporation, partnership, limited liability company, regulated investment company, real estate investment trust, common trust fund or any other organization in which a trustee has an interest other than a trust or estate to which section 7‑442 applies, a business or activity […]
18-C §7-442. Distribution from trust or estate
§7-442. Distribution from trust or estate A trustee shall allocate to income an amount received as a distribution of income from a trust or an estate in which the trust has an interest other than a purchased interest, and shall allocate to principal an amount received as a distribution of principal from such a trust […]