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- Alaska Statutes.
- Title 13. Decedents' Estates, Guardianships, Transfers, and Trusts.
- Chapter 38. Principal and Income of Trusts
- Section 720. Timber.
previous: Section 710
. Minerals, Water, and Other Natural Resources.
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. Property Not Productive of Income.
AS 13.38.720. Timber.
- (a) 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 the amount of timber removed from the land exceeds the rate of growth of the timber,
or the net receipts are from the sale of standing timber;
- (3) between income and principal, by determining the amount of timber removed from the land under the lease or contract
and applying the rules in (1) and (2) of this subsection if the net receipts are from the lease of timberland or 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 (1) - (3) of
- (b) In determining net receipts to be allocated under (a) of this section, a trustee shall deduct and transfer to
principal a reasonable amount for depletion.
- (c) This chapter applies whether or not a decedent or transferor was harvesting timber from the property before it became
subject to the trust.
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