§557A-405 Rental property. To the extent that a trustee accounts for receipts from rental property pursuant to this section, an amount received as rent of real or personal property, including an amount received for cancellation or renewal of a lease, shall be allocated to income. An amount received as a refundable deposit, including a security deposit or a deposit that is to be applied as rent for future periods, shall be added to principal and held subject to the terms of the lease and shall not be available for distribution to a beneficiary until the trustee's contractual obligations have been satisfied with respect to that amount. [L 2000, c 191, pt of §1]
Structure Hawaii Revised Statutes
Title 30. Guardians and Trustees
557A. Uniform Principal and Income Act
557A-103 Fiduciary duties; general principles.
557A-104 Trustee's power to adjust.
557A-105 Notice of proposed action.
557A-106 Proceedings regarding trustee's power to adjust.
557A-201 Determination and distribution of net income.
557A-202 Distribution to residuary and remainder beneficiaries.
557A-301 When right to income begins and ends.
557A-302 Apportionment of receipts and disbursements when decedent dies or income interest begins.
557A-303 Apportionment when income interest ends.
557A-401 Character of receipts.
557A-402 Distribution from trust or estate.
557A-403 Business and other activities conducted by trustee.
557A-406 Obligation to pay money.
557A-407 Insurance policies and similar contracts.
557A-408 Insubstantial allocations not required.
557A-409 Deferred compensation, annuities, and similar payments.
557A-411 Minerals, water, and other natural resources.
557A-413 Property not productive of income.
557A-414 Derivatives and options.
557A-415 Asset-backed securities.
557A-501 Disbursements from income.
557A-502 Disbursements from principal.
557A-503 Transfers from income to principal for depreciation.
557A-504 Transfers from income to reimburse principal.
557A-506 Adjustments between principal and income because of taxes.