Prob. Code, § 16344 · Article 4. Allocation of Receipts
Prob. Code, § 16344
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
To the extent a fiduciary does not account for the management of rental property as a business under Section 16342, the fiduciary shall allocate to income an amount received as rent of real or personal property, including an amount received for cancellation or renewal of a lease. Both of the following apply to an amount received as a refundable deposit, including a security deposit or a deposit that is to be applied as rent for future periods:
(1) The amount shall be added to principal and held subject to the terms of the lease, except as otherwise provided by law other than this chapter.
(2) The amount is not allocated to income or available for distribution to a beneficiary until the fiduciary’s contractual obligations have been satisfied with respect to that amount.
Notes and commentary — not statutory text
History
Added by Stats. 2023, Ch. 28, Sec. 2. (SB 522) Effective January 1, 2024.
Source of truth
- Edition
- As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
- Official file
- https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=PROB§ionNum=16344.
- Text hash
- sha256 bb3ad3ba216151f8e62eac1e821e0c0de37ae1a93b351b5ed7c2350289a1d5f4
- Composed by
- compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section
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Probate Code
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