N.Y. Estates, Powers & Trusts Law Section 11-A-4.10
Liquidating asset

§ 11-A-4.10 Liquidating asset (a) 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 11-A-4.9, resources subject to 11-A-4.11, timber subject to 11-A-4.12, an activity subject to 11-A-4.14, an asset subject to 11-A-4.15, or any asset for which the trustee establishes a reserve for depreciation under 11-A-5.3.


A trustee shall allocate to income ten percent of the receipts from a liquidating asset and the balance to principal.

Source: Section 11-A-4.10 — Liquidating asset, https://www.­nysenate.­gov/legislation/laws/EPT/11-A-4.­10 (updated Sep. 22, 2014; accessed Dec. 2, 2023).

Dec. 2, 2023

Last modified:
Sep. 22, 2014

§ 11-A-4.10’s source at nysenate​.gov

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