§ 738.404, Fla. Stat. · Chapter 738. UNIFORM FIDUCIARY INCOME AND PRINCIPAL ACT
Principal receipts.
Text — 2026 Florida Statutes
A fiduciary shall allocate to principal:
(1) To the extent not allocated to income under this chapter, an asset received from any of the following:
(a) An individual during the individual’s lifetime.
(b) An estate.
(c) A trust on termination of an income interest.
(d) A payor under a contract naming the fiduciary as beneficiary.
(2) Except as otherwise provided in ss. 738.401-738.416, money or other property received from the sale, exchange, liquidation, or change in the form of a principal asset.
(3) An amount recovered from a third party to reimburse the fiduciary because of a disbursement described in s. 738.502(1) or for another reason to the extent not based on the loss of income.
(4) Proceeds of property taken by eminent domain except that proceeds awarded for loss of income in an accounting period are income if a current income beneficiary had a mandatory income interest during the period.
(5) Net income received in an accounting period during which there is no beneficiary to which a fiduciary may or must distribute income.
(6) Other receipts as provided in ss. 738.408-738.416.
Notes and commentary — not statutory text
History
s. 23, ch. 2024-216.
Source of truth
- Edition
- 2026 Florida Statutes
- Official file
- https://www.leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0700-0799/0738/0738.html
- Text hash
- sha256 c98f86815d46dafd8a1ece800f185a2b6add13cb0683769b487b78c9dba8ebdc
- Composed by
- compose_v2.py 2026-10-04: the Legislature's structured HTML read in document order; verify_v2.py's independent reading agrees character for character
- composed from the Legislature's structured HTML (one source of text; no PDF extraction); a second, independent reading of the same bytes agrees character for character
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
The Florida Statutes
- § 738.401, Fla. Stat.Character of receipts from entity.Printed as ss. 738.401-738.416
- § 738.408, Fla. Stat.Insubstantial allocation not required.Printed as ss. 738.408-738.416
- § 738.416, Fla. Stat.Other financial instrument or arrangement.Printed as ss. 738.401-738.416; ss. 738.408-738.416
- § 738.502, Fla. Stat.Disbursement from principal.Printed as s. 738.502(1)
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.