2-3-815. Rental property.
To the extent that a trustee accounts for receipts from rental property pursuant to this section, the trustee shall allocate to income an amount received as rent of real or personal property, including an amount received for cancellation or renewal of a lease. An amount received as a refundable deposit, including a security deposit or a deposit that is to be applied as rent for future periods, must be added to principal and held subject to the terms of the lease and is not available for distribution to a beneficiary until the trustee's contractual obligations have been satisfied with respect to that amount.
Structure Wyoming Statutes
Title 2 - Wills, Decedents' Estates and Probate Code
Article 8 - Principal and Income
Section 2-3-801 - Short Title.
Section 2-3-802 - Definitions.
Section 2-3-803 - Fiduciary Duties; General Principles.
Section 2-3-804 - Trustee's Power to Adjust; Liability of Trustee.
Section 2-3-806 - Determination and Distribution of Net Income.
Section 2-3-807 - Distribution to Residuary and Remainder Beneficiaries.
Section 2-3-808 - When Right to Income Begins and Ends.
Section 2-3-810 - Apportionment When Income Interest Ends.
Section 2-3-811 - Character of Receipts.
Section 2-3-812 - Distribution From Trust or Estate.
Section 2-3-813 - Business and Other Activities Conducted by Trustee.
Section 2-3-814 - Principal Receipts.
Section 2-3-815 - Rental Property.
Section 2-3-816 - Obligation to Pay Money.
Section 2-3-817 - Insurance Policies and Similar Contracts.
Section 2-3-818 - Insubstantial Allocation Not Required.
Section 2-3-819 - Deferred Compensation, Annuities and Similar Payments.
Section 2-3-820 - Liquidating Asset.
Section 2-3-821 - Minerals, Water and Other Natural Resources.
Section 2-3-823 - Property Not Productive of Income.
Section 2-3-824 - Derivatives and Options.
Section 2-3-825 - Asset-Backed Securities.
Section 2-3-826 - Disbursements From Income.
Section 2-3-827 - Disbursements From Principal.
Section 2-3-828 - Transfers From Income to Principal for Depreciation.
Section 2-3-829 - Transfers From Income to Reimburse Principal.
Section 2-3-830 - Income Taxes.
Section 2-3-831 - Adjustments Between Principal and Income.
Section 2-3-832 - Judicial Control of Discretionary Powers.
Section 2-3-833 - Uniformity of Application and Construction.
Section 2-3-834 - Application of Act to Trusts and Estates; Principal Place of Administration.
Section 2-3-835 - Trustee Discretion to Include Capital Gains in Income.