Uniform Principal and Income Act

ORS 129.360
UPIA 410. Liquidating asset


In this section, “liquidating asset” means an asset whose value will diminish or terminate because the asset is expected to produce receipts for a period of limited duration. The term includes a leasehold, patent, copyright, royalty right and right to receive payments during a period of more than one year under an arrangement that does not provide for the payment of interest on the unpaid balance. The term does not include a payment subject to ORS 129.355 (UPIA 409. Deferred compensation, annuities and similar payments), resources subject to ORS 129.365 (UPIA 411. Minerals, water and other natural resources), timber subject to ORS 129.370 (UPIA 412. Timber), an activity subject to ORS 129.380 (UPIA 414. Derivatives and options), an asset subject to ORS 129.385 (UPIA 415. Asset-backed securities) or any asset for which the trustee establishes a reserve for depreciation under ORS 129.410 (UPIA 503. Transfers from income to principal for depreciation).


A trustee shall allocate to income 10 percent of the receipts from a liquidating asset and the balance to principal. [2003 c.279 §19]


Last accessed
Jun. 26, 2021