Pennsylvania § 8152 - Timber.
Full text of Pennsylvania Pennsylvania Consolidated Statutes § 8152 — Timber., with citation guidance and answers to common questions.
§ 8152. Timber.
(a) Allocation of net receipts.--To the extent that a trustee accounts for receipts from the sale of timber and related products under this section, the trustee shall allocate the net receipts:
(1) To income to the extent that the amount of timber removed from the land does not exceed the rate of growth of the timber during the accounting periods in which a beneficiary has a mandatory income interest.
(2) To principal to the extent that:
(i) the amount of timber removed from the land exceeds the rate of growth of the timber; or
(ii) the net receipts are from the sale of standing timber.
(3) To or between income and principal, by determining the amount of timber removed from the land under the lease or contract and applying the rules in paragraphs (1) and (2) if the net receipts are from:
(i) the lease of timberland; or
(ii) a contract to cut timber from land owned by a trust.
(4) To principal to the extent that advance payments, bonuses and other payments are not allocated under paragraph (1), (2) or (3).
(b) Determining net receipts.--In determining net receipts to be allocated under subsection (a), a trustee shall deduct and transfer to principal a reasonable amount for depletion.
(c) Application.--This chapter applies whether or not a decedent or transferor was harvesting timber from the property before it became subject to the trust.
Cross References. Section 8152 is referred to in sections 8121, 8144, 8146, 8148, 8150 of this title.
Frequently Asked Questions About Pennsylvania § 8152
What does Pennsylvania Consolidated Statutes § 8152 cover?
Section 8152 ("Timber.") is part of the Pennsylvania Consolidated Statutes, the codified statutory law of Pennsylvania. 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 Pennsylvania § 8152?
A common citation format is "Pennsylvania Consolidated Statutes § 8152" (Pennsylvania). 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 Pennsylvania law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Pennsylvania official source linked on this page or consult a licensed Pennsylvania attorney.
How does Pennsylvania § 8152 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Pennsylvania 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 Pennsylvania.