Oregon Code § 129.410·Enacted ·Last updated March 01, 2026
Statute Text
UPIA
503. Transfers from income to principal for depreciation.
(1) In this section, depreciation
means a reduction in value due to wear, tear, decay, corrosion or gradual
obsolescence of a fixed asset having a useful life of more than one year.
(2) A trustee may
transfer to principal a reasonable amount of the net cash receipts from a
principal asset that is subject to depreciation, but may not transfer any
amount for depreciation:
(a) Of that
portion of real property used or available for use by a beneficiary as a
residence or of tangible personal property held or made available for the
personal use or enjoyment of a beneficiary;
(b) During the
administration of a decedents estate; or
(c) Under this
section if the trustee is accounting under ORS 129.308 for the business or
activity in which the asset is used.
(3) An amount
transferred to principal need not be held as a separate fund. [2003 c.279 §27]
Plain English Explanation
This Oregon statute addresses UPIA
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Key Points
01Part of Oregon statutory law
02Referenced as Oregon Code § 129.410
03Subject to legislative amendments
04Consult a licensed attorney for application to specific cases
Frequently Asked Questions
This section of Oregon law addresses UPIA
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