Georgia § 53-12-421 - Rental property.
Full text of Georgia Official Code of Georgia Annotated § 53-12-421 — Rental property., with citation guidance and answers to common questions.
§ 53-12-421. Rental property.
To the extent that a trustee accounts for receipts from rental property pursuant to this Code 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, 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 such amount. (Code 1981, § 53-12-421 , enacted by Ga. L. 2010, p. 579, § 1/SB 131.)
Frequently Asked Questions About Georgia § 53-12-421
What does Official Code of Georgia Annotated § 53-12-421 cover?
Section 53-12-421 ("Rental property.") is part of the Official Code of Georgia Annotated, the codified statutory law of Georgia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Georgia § 53-12-421?
A common citation format is "Official Code of Georgia Annotated § 53-12-421" (Georgia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Georgia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Georgia official source linked on this page or consult a licensed Georgia attorney.
How does Georgia § 53-12-421 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Georgia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Georgia.