reglab/housing_qa huggingface dataset:
Ohio Rev Code § 5810.12 (2021)
2021 Ohio Revised Code|Title 58 | Trusts|Chapter 5810 | Breach of Trust|Section 5810.12 | Person Assisting or Dealing With Trustee in Good Faith.

Effective: January 1, 2007|Latest Legislation:  House Bill 416 - 126th General Assembly|(A) A person other than a beneficiary who in good faith assists a trustee, or who in good faith and for value deals with a trustee, without knowledge that the trustee is exceeding or improperly exercising the trustee's powers is protected from liability as if the trustee properly exercised the power.(B) A person other than a beneficiary who in good faith deals with a trustee is not required to inquire into the extent of the trustee's powers or the propriety of their exercise.(C) A person who in good faith delivers assets to a trustee is not required to ensure their proper application.(D) A person other than a beneficiary who in good faith assists a former trustee, or who in good faith and for value deals with a former trustee, without knowledge that the trusteeship has terminated is protected from liability as if the former trustee were still a trustee.(E) Comparable protective provisions of other laws relating to commercial transactions or transfer of securities by fiduciaries prevail over the protection provided by this section.
Ohio Rev Code § 5810.13 (2021)
2021 Ohio Revised Code|Title 58 | Trusts|Chapter 5810 | Breach of Trust|Section 5810.13 | Certification of Trust Furnished to Person Not Beneficiary.

Effective: March 22, 2012|Latest Legislation:  Senate Bill 117 - 129th General Assembly|(A) Instead of furnishing a copy of the trust instrument to a person other than a beneficiary, the trustee may furnish to the person a certification of trust containing all of the following information: (1) A statement that the trust exists and the date the trust instrument was executed;(2) The identity of the settlor;(3) The identity and address of the currently acting trustee;(4) The powers of the trustee;(5) The revocability or irrevocability of the trust and the identity of any person holding a power to revoke the trust;(6) The authority of cotrustees to sign or otherwise authenticate and whether all or less than all are required in order to exercise powers of the trustee.(B) Any trustee may sign or otherwise authenticate a certification of trust.(C) A certification of trust shall state that the trust has not been revoked, modified, or amended in any manner that would cause the representations contained in the certification of trust to be incorrect.(D) A certification of trust is not required to contain the dispositive terms of a trust.(E) A certification of trust may establish the identity of the trustee and any succession of trustees under division (B) or (C) of section 5810.14 of the Revised Code.(F) A recipient of a certification of trust may require the trustee to furnish copies of those excerpts from the original trust instrument and later amendments that designate the trustee and confer upon the trustee the power to act in the pending transaction.(G) A person who acts in reliance upon a certification of trust without knowledge that the representations contained in the certification are incorrect is not liable to any person for so acting and may assume without inquiry the existence of the facts contained in the certification. Knowledge of the terms of the trust may not be inferred solely from the fact that a copy of all or part of the trust instrument is held by the person relying upon the certification.(H) A person who in good faith enters into a transaction in reliance upon a certification of trust may enforce the transaction against the trust property as if the representations contained in the certification were correct.(I) This section does not affect the use or validity of a memorandum of trust under section 5301.255 of the Revised Code.(J) This section does not limit the right of a person to obtain a copy of the trust instrument in a judicial proceeding concerning the trust.
Ohio Rev Code § 5810.14 (2021)
2021 Ohio Revised Code|Title 58 | Trusts|Chapter 5810 | Breach of Trust|Section 5810.14 | Transfer of Personal Property to Trustee.

Effective: March 22, 2012|Latest Legislation:  Senate Bill 117 - 129th General Assembly|(A) Personal property may be transferred to a trustee as authorized by section 5804.01 of the Revised Code by executing the necessary written instrument that identifies the personal property transferred and identifies the trustee by name followed by the designation "trustee." (B) The future transfer of personal property to a trustee as a designated beneficiary, including, but not limited to, a transfer on death designation or payable on death designation, participation in a joint ownership arrangement, or any other contractual transfer arrangement, that is made by executing the necessary written instrument identifying the trustee by name followed by the designation "trustee" shall be considered a transfer of the personal property to the trustee serving at the time of the future transfer. A certification of trust under section 5810.13 of the Revised Code may establish the identity of the trustee and any succession of trustees.(C) A written instrument transferring personal property to a trust or a written instrument providing for the future transfer of personal property to a trust, by identifying the trust without identifying the trustee, shall be considered a transfer of the personal property to the trustee serving at the time of transfer. A certification of trust under section 5810.13 of the Revised Code may establish the identity of the trustee and any succession of trustees.(D) An instrument of transfer under this section may, but is not required to, contain any additional identifying information, including the trust name, the name of the settlor, the date of trust creation, and the date of applicable trust amendments.(E) Nothing in this section is intended to affect the operation of section 5301.03 of the Revised Code.(F) Nothing in this section is intended to affect or be in conflict with division (E) of section 5301.071 of the Revised Code that addresses transfers of real property to or from trusts and trustees.
Ohio Rev Code § 5811.01 (2021)
2021 Ohio Revised Code|Title 58 | Trusts|Chapter 5811 | Application and Construction of Code|Section 5811.01 | Promotion of Uniformity of Law.

Effective: January 1, 2007|Latest Legislation:  House Bill 416 - 126th General Assembly|In applying and construing Chapters 5801. to 5811. of the Revised Code, a court may consider the need to promote uniformity of the law with respect to the subject matter of those chapters among states that enact the uniform trust code.
Ohio Rev Code § 5811.02 (2021)
2021 Ohio Revised Code|Title 58 | Trusts|Chapter 5811 | Application and Construction of Code|Section 5811.02 | Electronic Signatures in Global and National Commerce Act.

Effective: January 1, 2007|Latest Legislation:  House Bill 416 - 126th General Assembly|The provisions of Chapters 5801. to 5811. of the Revised Code governing the legal effect, validity, or enforceability of electronic records or electronic signatures and of contracts formed or performed with the use of electronic records or electronic signatures conform to the requirements of section 102 of the Electronic Signatures in Global and National Commerce Act, 15 U.S.C. 7002, 114 Stat. 467, and supersede, modify, and limit the requirements of the Electronic Signatures in Global and National Commerce Act.
Ohio Rev Code § 5811.03 (2021)
2021 Ohio Revised Code|Title 58 | Trusts|Chapter 5811 | Application and Construction of Code|Section 5811.03 | Temporal Application of Provisions of Code.

Effective: January 1, 2007|Latest Legislation:  House Bill 416 - 126th General Assembly|(A) Except as otherwise provided in Chapters 5801. to 5811. of the Revised Code, all of the following apply:(1) Chapters 5801. to 5811. of the Revised Code apply to all trusts created before, on, or after their effective date.(2) Chapters 5801. to 5811. of the Revised Code apply to all judicial proceedings concerning trusts commenced on or after their effective date.(3) Chapters 5801. to 5811. of the Revised Code apply to judicial proceedings concerning trusts commenced before the effective date of those chapters unless the court finds that application of a particular provision of those chapters would substantially interfere with the effective conduct of the judicial proceedings or prejudice the rights of the parties, in which case the particular provision does not apply, and the superseded law applies.(4) Any rule of construction or presumption provided in Chapters 5801. to 5811. of the Revised Code applies to trust instruments executed before the effective date of those chapters unless there is a clear indication of a contrary intent in the terms of the trust.(5) Chapters 5801. to 5811. of the Revised Code do not affect an act done before the effective date of those chapters.(B) If a right is acquired, extinguished, or barred upon the expiration of a prescribed period that has commenced to run under any other statute before the effective date of Chapters 5801. to 5811. of the Revised Code, that statute continues to apply to the right even if it has been repealed or superseded.
Ohio Rev Code § 5812.01 (2021)
2021 Ohio Revised Code|Title 58 | Trusts|Chapter 5812 | Uniform Principal and Income Act|Section 5812.01 | Uniform Principal and Income Act Definitions.

Effective: January 1, 2007|Latest Legislation:  House Bill 416 - 126th General Assembly|As used in sections 5812.01 to 5812.52 of the Revised Code:(A) "Accounting period" means a calendar year unless another twelve-month period is selected by a fiduciary. "Accounting period" includes a portion of a calendar year or other twelve-month period that begins when an income interest begins or ends when an income interest ends.(B) "Beneficiary" includes, in the case of a decedent's estate, an heir, legatee, and devisee and, in the case of a trust, an income beneficiary and a remainder beneficiary.(C) "Fiduciary" means a personal representative or a trustee. The term includes an executor, administrator, successor personal representative, special administrator, and a person performing substantially the same function.(D) "Income" means money or property that a fiduciary receives as current return from a principal asset. "Income" includes a portion of receipts from a sale, exchange, or liquidation of a principal asset, to the extent provided in sections 5812.18 to 5812.38 of the Revised Code.(E) "Income beneficiary" means a person to whom net income of a trust is or may be payable.(F) "Income interest" means the right of an income beneficiary to receive all or part of net income, whether the terms of the trust require or authorize it to be distributed in the trustee's discretion.(G) "Mandatory income interest" means the right of an income beneficiary to receive net income that the terms of the trust require the fiduciary to distribute.(H) "Net income" means the total receipts allocated to income during an accounting period minus the disbursements made from income during the period, plus or minus transfers under sections 5812.01 to 5812.52 of the Revised Code to or from income during the period.(I) "Person" means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, or government; governmental subdivision, agency, or instrumentality; public corporation; or any other legal or commercial entity.(J) "Principal" means property held in trust for distribution to a remainder beneficiary when the trust terminates.(K) "Remainder beneficiary" means a person entitled to receive principal when an income interest ends.(L) "Terms of a trust" means the manifestation of the intent of a settlor or decedent with respect to the trust, expressed in a manner that admits of its proof in a judicial proceeding, whether by written or spoken words or by conduct.(M) "Trustee" includes an original, additional, or successor trustee, whether or not appointed or confirmed by a court.
Ohio Rev Code § 5812.08 (2021)
2021 Ohio Revised Code|Title 58 | Trusts|Chapter 5812 | Uniform Principal and Income Act|Section 5812.08 | Distribution to Residuary and Remainder Beneficiaries.

Effective: January 1, 2007|Latest Legislation:  House Bill 416 - 126th General Assembly|(A) Each beneficiary described in division (D) of section 5812.07 of the Revised Code is entitled to receive a portion of the net income equal to the beneficiary's fractional interest in undistributed principal assets, using values as of the distribution date. If a fiduciary makes more than one distribution of assets to beneficiaries to whom this section applies, each beneficiary, including one that does not receive part of the distribution, is entitled, as of each distribution date, to the net income the fiduciary has received after the date of the decedent's death or terminating event or earlier distribution date but has not distributed as of the current distribution date.(B) In determining a beneficiary's share of net income for the purpose of this section, all of the following apply:(1) The beneficiary is entitled to receive a portion of the net income equal to the beneficiary's fractional interest in the undistributed principal assets immediately before the distribution date, including assets that later may be sold to meet principal obligations.(2) The beneficiary's fractional interest in the undistributed principal assets must be calculated without regard to property specifically given to a beneficiary and property required to pay pecuniary amounts not in trust.(3) The beneficiary's fractional interest in the undistributed principal assets must be calculated on the basis of the aggregate value of those assets as of the distribution date without reducing the value by any unpaid principal obligation.(4) The distribution date for purposes of this section may be the date as of which the fiduciary calculates the value of the assets if that date is reasonably near the date on which assets are actually distributed.(C) If a fiduciary does not distribute all of the collected but undistributed net income described in divisions (A) and (B) of this section to each person as of a distribution date, the fiduciary shall maintain appropriate records showing the interest of each.(D) To the extent that a fiduciary considers it appropriate, the fiduciary may apply the provisions of divisions (A) to (C) of this section to any net gain or loss, realized after the date of the decedent's death or an income interest termination or earlier distribution date, from the disposition of a principal asset to which such provisions apply.
Ohio Rev Code § 5812.12 (2021)
2021 Ohio Revised Code|Title 58 | Trusts|Chapter 5812 | Uniform Principal and Income Act|Section 5812.12 | When Right to Income Begins and Ends.

Effective: January 1, 2007|Latest Legislation:  House Bill 416 - 126th General Assembly|(A) An income beneficiary is entitled to net income from the date on which the income interest begins. An income interest begins on the date specified in the terms of the trust or, if no date is specified, on the date an asset becomes subject to a trust or successive income interest.(B) An asset becomes subject to a trust on any of the following dates:(1) The date it is transferred to the trust, in the case of an asset that is transferred to a trust during the transferor's life;(2) The date of a testator's death, in the case of an asset that becomes subject to a trust by reason of a will, even if there is an intervening period of administration of the testator's estate;(3) The date of an individual's death, in the case of an asset that is transferred to a fiduciary by a third party because of the individual's death.(C) An asset becomes subject to a successive income interest on the day after the preceding income interest ends, as determined under division (D) of this section, even if there is an intervening period of administration to wind up the preceding income interest.(D) An income interest ends on the day before an income beneficiary dies or another terminating event occurs, or on the last day of a period during which there is no beneficiary to whom a trustee may distribute income.
Ohio Rev Code § 5812.13 (2021)
2021 Ohio Revised Code|Title 58 | Trusts|Chapter 5812 | Uniform Principal and Income Act|Section 5812.13 | Apportionment of Receipts and Disbursements When Decedent Dies or Income Interest Begins.

Effective: January 1, 2007|Latest Legislation:  House Bill 416 - 126th General Assembly|(A) A trustee shall allocate to principal an income receipt or disbursement other than one to which division (A) of section 5812.07 of the Revised Code applies, if its due date occurs before a decedent dies in the case of an estate or before an income interest begins in the case of a trust or successive income interest.(B) A trustee shall allocate an income receipt or disbursement to income if its due date occurs on or after the date on which a decedent dies or an income interest begins and if it is a periodic due date. An income receipt or disbursement shall be treated as accruing from day to day if its due date is not periodic or it has no due date. The portion of the receipt or disbursement accruing before the date on which a decedent dies or an income interest begins shall be allocated to principal, and the balance shall be allocated to income.(C) For the purposes of this section, an item of income or an obligation is due on the date the payer is required to make a payment. If a payment date is not stated, there is no due date. Distributions to shareholders or other owners from an entity to which section 5812.18 of the Revised Code applies are deemed to be due on the date fixed by the entity for determining who is entitled to receive the distribution or, if no date is fixed, on the declaration date for the distribution. A due date is periodic for receipts or disbursements that must be paid at regular intervals under a lease or an obligation to pay interest or if an entity customarily makes distributions at regular intervals.
Ohio Rev Code § 5812.14 (2021)
2021 Ohio Revised Code|Title 58 | Trusts|Chapter 5812 | Uniform Principal and Income Act|Section 5812.14 | Apportionment When Income Interest Ends.

Effective: January 1, 2007|Latest Legislation:  House Bill 416 - 126th General Assembly|(A) As used in this section, "undistributed income" means net income received before the date on which an income interest ends. "Undistributed income" excludes an item of income or expense that is due or accrued or net income that has been added or is required to be added to principal under the terms of the trust.(B) When a mandatory income interest ends, the trustee shall pay to a mandatory income beneficiary that survives that date, or the estate of a deceased mandatory income beneficiary whose death causes the interest to end, the beneficiary's share of the undistributed income that is not disposed of under the terms of the trust, unless the beneficiary has an unqualified power to revoke more than five per cent of the trust immediately before the income interest ends. If the beneficiary has such power, the undistributed income from the portion of the trust that may be revoked shall be added to principal.(C) When a trustee's obligation to pay a fixed annuity or a fixed fraction of the value of the trust's assets ends, the trustee shall prorate the final payment if and to the extent required by applicable law to accomplish a purpose of the trust or its settlor relating to income, gift, estate, or other tax requirements.
Ohio Rev Code § 5812.18 (2021)
2021 Ohio Revised Code|Title 58 | Trusts|Chapter 5812 | Uniform Principal and Income Act|Section 5812.18 | Character of Receipts.

Effective: January 1, 2007|Latest Legislation:  House Bill 416 - 126th General Assembly|(A) As used in this section, "entity" means a corporation, partnership, limited liability company, regulated investment company, real estate investment trust, common trust fund, or any other organization in which a trustee has an interest other than a trust or estate to which section 5812.19 of the Revised Code applies, a business or activity to which section 5812.20 of the Revised Code applies, or an asset-backed security to which section 5812.38 of the Revised Code applies.(B) Except as otherwise provided in this section, a trustee shall allocate to income money received from an entity.(C) A trustee shall allocate all of the following receipts from an entity to principal:(1) Property other than money;(2) Money received in one distribution or a series of related distributions in exchange for part or all of a trust's interest in the entity;(3) Money received in total or partial liquidation of the entity;(4) Money received from an entity that is a regulated investment company or a real estate investment trust if the money distributed is a capital gain dividend for federal income tax purposes.(D) Money is received in partial liquidation in either of the following circumstances:(1) To the extent that the entity, at or near the time of a distribution, indicates that it is a distribution in partial liquidation;(2) If the total amount of money and property received in a distribution or series of related distributions is greater than twenty per cent of the entity's gross assets, as shown by the entity's year-end financial statements immediately preceding the initial receipt.(E) Money is not received in partial liquidation, nor shall it be taken into account under division (D)(2) of this section, to the extent that it does not exceed the amount of income tax that a trustee or beneficiary must pay on taxable income of the entity that distributes the money.(F) A trustee may rely upon a statement made by an entity about the source or character of a distribution if the statement is made at or near the time of distribution by the entity's board of directors or other person or group of persons authorized to exercise powers to pay money or transfer property comparable to those of a corporation's board of directors.
Ohio Rev Code § 5812.19 (2021)
2021 Ohio Revised Code|Title 58 | Trusts|Chapter 5812 | Uniform Principal and Income Act|Section 5812.19 | Distribution From Trust or Estate.

Effective: January 1, 2007|Latest Legislation:  House Bill 416 - 126th General Assembly|A trustee shall allocate to income an amount received as a distribution of income from a trust or an estate in which the trust has an interest other than a purchased interest, and shall allocate to principal an amount received as a distribution of principal from such a trust or estate. If a trustee purchases an interest in a trust that is an investment entity, or a decedent or donor transfers an interest in such a trust to a trustee, section 5812.18 or 5812.38 of the Revised Code applies to a receipt from the trust.