Section 4.18 Receipts From the Sale of Timber and Related Products
| Library | Trusts and Powers 2013 Supp |
J. (§4.18) Receipts From the Sale of Timber and Related Products
A trustee is directed to allocate receipts from the sale of timber and related products based on the nature of the harvest. The allocation rules are as follows:
(1) To income to the extent that the amount of timber removed from the land does not exceed the rate of growth of the timber during the accounting periods in which a beneficiary has a mandatory income interest;
(2) To principal to the extent that the amount of timber removed from the...
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