Tennessee § 35-6-404 - Principal receipts.
Full text of Tennessee Tennessee Code Annotated § 35-6-404 — Principal receipts., with citation guidance and answers to common questions.
§ 35-6-404. Principal receipts.
A trustee shall allocate to principal: To the extent not allocated to income under this chapter, assets received from a transferor during the transferor's lifetime, a decedent's estate, a trust with a terminating income interest, or a payer under a contract naming the trust or its trustee as beneficiary; Money or other property received from the sale, exchange, liquidation, or change in form of a principal asset, including realized profit, subject to this chapter; Amounts recovered from third parties to reimburse the trust because of disbursements described in § 35-6-502(a)(7) or for other reasons to the extent not based on the loss of income; Proceeds of property taken by eminent domain, but a separate award made for the loss of income with respect to an accounting period during which a current income beneficiary had a mandatory income interest is income; Net income received in an accounting period during which there is no beneficiary to whom a trustee may or must distribute income; and Other receipts as provided in Part 4C, §§ 35-6-408 — 35-6-415. Acts 2000, ch. 829, § 1.
Frequently Asked Questions About Tennessee § 35-6-404
What does Tennessee Code Annotated § 35-6-404 cover?
Section 35-6-404 ("Principal receipts.") is part of the Tennessee Code Annotated, the codified statutory law of Tennessee. 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 Tennessee § 35-6-404?
A common citation format is "Tennessee Code Annotated § 35-6-404" (Tennessee). 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 Tennessee law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Tennessee official source linked on this page or consult a licensed Tennessee attorney.
How does Tennessee § 35-6-404 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Tennessee 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 Tennessee.