Prob. Code, § 16362 · Article 5. Allocation of Disbursements
Prob. Code, § 16362
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
(a) For purposes of this section, “depreciation” means a reduction in value due to wear, tear, decay, corrosion, or gradual obsolescence of a tangible asset having a useful life of more than one year.
(b) A fiduciary may transfer to principal a reasonable amount of the net money receipts from a principal asset that is subject to depreciation, but may not transfer any amount for depreciation:
(1) Of the part of real property used or available for use by a beneficiary as a residence.
(2) Of tangible personal property held or made available for the personal use or enjoyment of a beneficiary.
(3) Under this section, to the extent the fiduciary accounts under either of the following:
(A) Section 16349, for the asset.
(B) Section 16342, for the business or other activity in which the asset is used.
(c) An amount transferred to principal under this section need not be separately held.
Notes and commentary — not statutory text
History
Repealed and added by Stats. 2023, Ch. 28, Sec. 2.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=16362.
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- sha256 31157c2ffcfa6cb9f3e69ebf7b20ee08a5285fa53b62d26915711a65063e91b7
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- 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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