reglab/housing_qa huggingface dataset:
NY Est Pow & Trusts L § 11-A-1.3 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 11-A - Uniform Principal and Income Act Part 1 - Definitions and Fiduciary Duties 11-A-1.3 - Fiduciary Duties; General Principles

§ 11-A-1.3 Fiduciary duties; general principles  (a)  In  allocating receipts and disbursements to or between principal and income, and with respect to any matter within the scope of  parts  2 and 3, a fiduciary:  (1) shall administer a trust or estate in accordance with the terms of the  trust  or  the will, even if there is a different provision in this article;  (2)  may  administer  a  trust  or  estate  by  the  exercise   of   a discretionary  power  of  administration  given  to the fiduciary by the terms of the trust or the will,  even  if  the  exercise  of  the  power produces  a result different from a result required or permitted by this article;  (3) shall administer a trust or estate in accordance with this article if the terms of the trust  or  the  will  do  not  contain  a  different provision  or  do  not  give  the  fiduciary  a  discretionary  power of administration; and  (4) shall add a receipt or charge a disbursement to principal  to  the extent  that  the terms of the trust or the will and this article do not provide a rule for allocating the receipt or disbursement to or  between principal and income.  (b)  In exercising a discretionary power of administration regarding a matter within the scope of this article, whether granted by the terms of a trust, a will, or this article, a fiduciary shall administer  a  trust or  estate  impartially,  based on what is fair and reasonable to all of the beneficiaries, except to the extent that the terms of the  trust  or the  will  clearly manifest an intention that the fiduciary shall or may favor one or more of the beneficiaries. A  determination  in  accordance with  this  article  is presumed to be fair and reasonable to all of the beneficiaries.
NY Est Pow & Trusts L § 11-A-3.1 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 11-A - Uniform Principal and Income Act Part 3 - Apportionment at Beginning and End of Income Interest 11-A-3.1 - When Right to Income Begins and Ends

§ 11-A-3.1 When right to income begins and ends  (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:  (1) on 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) on 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; or  (3) on 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 paragraph (d), 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.
NY Est Pow & Trusts L § 11-A-3.2 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 11-A - Uniform Principal and Income Act Part 3 - Apportionment at Beginning and End of Income Interest 11-A-3.2 - Apportionment of Receipts and Disbursements When Decedent Dies or Income Interest Begins

§ 11-A-3.2 Apportionment  of  receipts  and  disbursements when decedent                dies or income interest begins  (a) A trustee shall allocate an income receipt or  disbursement  other than one to which paragraph 11-A-2.1 (1) applies to principal 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 it is  a  periodic  due  date.  An income  receipt  or disbursement must 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  must  be  allocated  to principal and the balance must be allocated to income.  (c) 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 for the purposes of this article. Distributions to shareholders or  other  owners from an entity to which 11-A-4.1 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.
NY Est Pow & Trusts L § 11-A-3.3 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 11-A - Uniform Principal and Income Act Part 3 - Apportionment at Beginning and End of Income Interest 11-A-3.3 - Apportionment When Income Interest Ends

§ 11-A-3.3 Apportionment when income interest ends  (a)  In this section, "undistributed income" means net income received on or before the date on which an income interest ends.  The  term  does not  include  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 who 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  percent  of  the  trust immediately  before  the  income  interest ends. In the latter case, the undistributed income from the portion of the trust that may  be  revoked must 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.
NY Est Pow & Trusts L § 11-A-5.1 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 11-A - Uniform Principal and Income Act Part 5 - Allocation of Disbursements During Administration of Trust 11-A-5.1 - Disbursements From Income

§ 11-A-5.1 Disbursements from income   A  trustee  shall  make the following disbursements from income to the extent that they are not disbursements to  which  subparagraph  11-A-2.1 (2)(B) or (C) applies:  (1)  one-third  of  the  regular  compensation of any person providing investment advisory or custodial services to the trustee;  (2) if the court shall find that  any  judicial  proceeding  primarily concerns  income  and that it is equitable to charge the expense of such proceeding, or a part thereof, to income, the court may direct that  all or  a  specified  part  of  the  expense  of  such proceeding, including attorney's fees, shall be charged to income;  (3) all of the other ordinary expenses incurred in connection with the administration, management, or preservation of trust  property  and  the distribution  of income, including interest, ordinary repairs, regularly recurring taxes assessed against principal; and  (4) recurring premiums on insurance covering the loss of  a  principal asset or the loss of income from or use of the asset.
NY Est Pow & Trusts L § 11-A-5.2 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 11-A - Uniform Principal and Income Act Part 5 - Allocation of Disbursements During Administration of Trust 11-A-5.2 - Disbursements From Principal

§ 11-A-5.2 Disbursements from principal  (a) A trustee shall make the following disbursements from principal:  (1)  the  remaining  two-thirds  of  the  disbursements  described  in paragraph 11-A-5.1 (1);  (2) all of the trustee's compensation calculated on principal as a fee for acceptance, distribution, or termination, and disbursements made  to prepare property for sale;  (3) payments on the principal of a trust debt;  (4)  except  as  provided  in paragraph 11-A-5.1 (2), all expenses for accountings, judicial proceedings or other matters that involve both the income and remainder interests  or  that  concern  primarily  principal, including  a proceeding to construe the trust or to protect the trust or its property;  (5) premiums paid on a policy of insurance not described in  paragraph 11-A-5.1 (4) of which the trust is the owner and beneficiary;  (6)   estate,   inheritance,   and  other  transfer  taxes,  including penalties, apportioned to the trust; and  (7)  disbursements  related  to   environmental   matters,   including reclamation,  assessing environmental conditions, remedying and removing environmental contamination,  monitoring  remedial  activities  and  the release   of   substances,  preventing  future  releases  of  substances collecting amounts from persons liable or  potentially  liable  for  the costs of those activities, penalties imposed under environmental laws or regulations  and  other  payments  made  to  comply  with  those laws or regulations, statutory or  common  law  claims  by  third  parties,  and defending claims based on environmental matters.  (b)  If  a  principal  asset  is  encumbered  with  an obligation that requires income from that asset to be paid directly to the creditor, the trustee shall transfer from principal to income an amount equal  to  the income paid to the creditor in reduction of the principal balance of the obligation.
NY Est Pow & Trusts L § 11-A-5.3 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 11-A - Uniform Principal and Income Act Part 5 - Allocation of Disbursements During Administration of Trust 11-A-5.3 - Transfers From Income to Principal for Depreciation

§ 11-A-5.3 Transfers from income to principal for depreciation  (a)  In this section, "depreciation" means a reduction in value due to wear, tear, decay, corrosion, or gradual obsolescence of a  fixed  asset having a useful life of more than one year.  (b) A trustee may transfer to principal a reasonable amount of the net cash  receipts  from  a principal asset that is subject to depreciation, but may not transfer any amount for depreciation:  (1) of that portion of real property used or available for  use  by  a beneficiary as a residence or of tangible personal property held or made available for the personal use or enjoyment of a beneficiary;  (2) during the administration of a decedent's estate; or  (3) under this section if the trustee is accounting under 11-A-4.3 for the business or activity in which the asset is used.  (c)  An amount transferred to principal need not be held as a separate fund.
NY Est Pow & Trusts L § 11-A-5.4 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 11-A - Uniform Principal and Income Act Part 5 - Allocation of Disbursements During Administration of Trust 11-A-5.4 - Transfers From Income to Reimburse Principal

§ 11-A-5.4 Transfers from income to reimburse principal  (a)  If  a  trustee  makes or expects to make a principal disbursement described in this section,  the  trustee  may  transfer  an  appropriate amount  from  income  to  principal in one or more accounting periods to reimburse principal  or  to  provide  a  reserve  for  future  principal disbursements.  (b) Principal disbursements to which paragraph (a) applies include the following, but only to the extent that the trustee has not been and does not expect to be reimbursed by a third party:  (1)  an amount chargeable to income but paid from principal because it is unusually large, including extraordinary repairs;  (2) a capital improvement to a principal asset, whether in the form of changes to an existing  asset  or  the  construction  of  a  new  asset, including special assessments;  (3)  disbursements  made  to  prepare  property  for rental, including tenant allowances, leasehold improvements, and broker's commissions;  (4) periodic payments on an obligation secured by a principal asset to the extent that the amount transferred  from  income  to  principal  for depreciation is less than the periodic payments; and  (5) disbursements described in subparagraph 11-A-5.2 (a)(7).  (c)  If  the  asset  whose  ownership  gives rise to the disbursements becomes subject to a successive income interest after an income interest ends, a  trustee  may  continue  to  transfer  amounts  from  income  to principal as provided in paragraph (a).
NY Est Pow & Trusts L § 11-A-5.5 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 11-A - Uniform Principal and Income Act Part 5 - Allocation of Disbursements During Administration of Trust 11-A-5.5 - Income Taxes

§ 11-A-5.5 Income taxes  (a) A tax required to be paid by a trustee based on receipts allocated to income must be paid from income.  (b) A tax required to be paid by a trustee based on receipts allocated to  principal  must be paid from principal, even if the tax is called an income tax by the taxing authority.  (c) A tax required to be paid by a trustee on the trust's share of  an entity's taxable income must be paid proportionately:  (1)  from  income  to  the  extent  that  receipts from the entity are allocated to income; and  (2) from principal to the extent that:  (A) receipts from the entity are allocated to principal; and  (B) the trust's share of the entity's taxable income exceeds the total receipts described in subparagraph (1) and clause (A).  (d) For purposes of this section, receipt allocated  to  principal  or income  must  be reduced by the amount distributed to a beneficiary from principal or  income  for  which  the  trust  receives  a  deduction  in calculating the tax.
NY Est Pow & Trusts L § 11-A-5.6 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 11-A - Uniform Principal and Income Act Part 5 - Allocation of Disbursements During Administration of Trust 11-A-5.6 - Adjustments Between Principal and Income Because of Taxes

§ 11-A-5.6 Adjustments between principal and income because of taxes   A  fiduciary  may  make  adjustments  between  principal and income to offset the shifting of economic interests or tax benefits between income beneficiaries and remainder beneficiaries which arise from:  (1) elections and decisions that the fiduciary makes from time to time regarding tax matters;  (2) an income tax or any other tax that is imposed upon the  fiduciary or   a  beneficiary  as  a  result  of  a  transaction  involving  or  a distribution from the estate or trust; or  (3) the ownership by an estate or trust of an interest  in  an  entity whose  taxable  income, whether or not distributed, is includable in the taxable income of the estate, trust, or a beneficiary.
NY Est Pow & Trusts L § 11-A-6.1 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 11-A - Uniform Principal and Income Act Part 6 - Miscellaneous Provisions 11-A-6.1 - Uniformity of Application and Construction

§ 11-A-6.1 Uniformity of application and constructionIn  applying  and construing this article, consideration must be given   to the need to promote uniformity of the law with respect to its subject   matter among states that enact it.
NY Est Pow & Trusts L § 11-A-6.2 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 11-A - Uniform Principal and Income Act Part 6 - Miscellaneous Provisions 11-A-6.2 - Severability Clause

§ 11-A-6.2 Severability clauseIf  any  provision of this article or its application to any person or   circumstance is held invalid,  the  invalidity  does  not  affect  other   provisions  or  applications  of  this article which can be given effect   without the invalid provision  or  application,  and  to  this  end  the   provisions of this article are severable.
NY Est Pow & Trusts L § 11-A-6.3 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 11-A - Uniform Principal and Income Act Part 6 - Miscellaneous Provisions 11-A-6.3 - Effective Date

§ 11-A-6.3 Effective dateThis article takes effect on January first, two thousand two.
NY Est Pow & Trusts L § 11-A-6.4 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 11-A - Uniform Principal and Income Act Part 6 - Miscellaneous Provisions 11-A-6.4 - Application of Article

§ 11-A-6.4 Application of articleExcept  as specifically provided in the trust instrument, the will, or   in this article, this article shall apply  to  any  receipt  or  expense   received  or  incurred  on  or  after its effective date by any trust or   decedent's estate established before, on or after its effective date and   whether the asset involved was acquired by the  trustee  before,  on  or   after  its effective date, except that this article shall not apply to a   trust while any current beneficiary is interested in a  unitrust  amount   pursuant to subparagraph 11-2.4(b)(1); but it does apply with respect to   assets  to  which such a unitrust may become entitled but prior to their   actual receipt into the unitrust.
NY Est Pow & Trusts L § 12-1.1 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 12 - Actions by Creditors and Other Persons Against Distributees and Testamentary Beneficiaries Part 1 - Liability of Distributees and Testamentary Beneficiaries and Action Thereon 12-1.1 - Liability of Distributees and Testamentary Beneficiaries

§ 12-1.1 Liability of distributees and testamentary beneficiaries  (a)  Subject to the other provisions of this article, distributees and testamentary beneficiaries are liable, in an action, to  the  extent  of the  value  of  any property received by them as such, for the debts and reasonable funeral expenses of a decedent, the expenses of administering his estate and all taxes for which the estate is liable, which have  not previously  been  recovered from the personal representative or from any other source described in paragraph (b).  (b) No liability may be imposed upon such distributees or testamentary beneficiaries,  under  paragraph  (a),  unless   plaintiff   establishes satisfactorily to the court that he cannot fully satisfy his claim:  (1) Because there is insufficient property of the estate available for such purpose in the hands of the personal representative;  (2)  By  action  against  persons prior in liability to the defendant, under paragraph (a) of 12-1.2, because such persons are not amenable  to suit in this state, are insolvent or for any other reason cannot be made to answer for their liabilities; or  (3) By the enforcement, under 3-3.6, of any lien, security interest or other  charge  he  holds  against  property of the decedent specifically disposed of by will or passing to a distributee, or against the proceeds of any policy of insurance on the life of  the  decedent  payable  to  a named beneficiary.
NY Est Pow & Trusts L § 12-1.2 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 12 - Actions by Creditors and Other Persons Against Distributees and Testamentary Beneficiaries Part 1 - Liability of Distributees and Testamentary Beneficiaries and Action Thereon 12-1.2 - Order of Liability; Preferences

§ 12-1.2 Order of liability; preferences  (a)   Distributees  and  testamentary  beneficiaries  are  liable,  as provided in 12-1.1, in the following order:  (1) Distributees.  (2) Residuary beneficiaries.  (3)  General  beneficiaries.  Demonstrative  beneficiaries  shall   be treated  as  general  beneficiaries,  to the extent that the property or fund charged with a demonstrative disposition has adeemed.  (4)  Specific  beneficiaries.  Demonstrative  beneficiaries  shall  be treated  as  specific beneficiaries if the property or fund charged with any demonstrative disposition has not adeemed,  to  the  extent  of  the value of such property or fund.  (5)  A  surviving  spouse  to  whom  a disposition has been made which qualifies for the estate tax marital deduction.  (b) The order of liability provided in paragraph (a) shall  not  apply to the liability for an estate or other death tax, under the law of this state  or  of  any  other  jurisdiction,  with  respect  to any property required to be included in the gross tax estate of a decedent under  the provisions  of  any  such law. The apportionment of such estate or other death  tax,  and  the  liability,  under  12-1.1,  of  distributees  and testamentary beneficiaries consequent to such apportionment are governed by the provisions of 2-1.8.  (c) The express or implied intention of the testator to prefer certain beneficiaries  shall  be  effective  to  vary  the  order  of  liability prescribed by paragraph (a).  (d) If, in an action under this article,  it  is  established  to  the satisfaction of the court that:  (1)  The  defendant  is  liable for the payment of two or more claims, preference in the payment of such claims must  be  given  in  the  order prescribed  by  law  for  payment  of  the debts of the decedent and the obligations of his estate.  (2) An unsatisfied claim exists which is legally preferred to that  of the  plaintiff,  the existence of such unsatisfied claim is a defense to the action if the aggregate value of the decedent's property passing  to defendant  and  other  persons in his order of liability does not exceed the amount of such unsatisfied claim; if in excess of the amount of such unsatisfied claim, the plaintiff may recover such ratable share  of  the excess  as the amount of his claim bears to the claims of all persons in the same order of preference as his.
NY Est Pow & Trusts L § 12-1.3 (2021)
2021 New York Laws EPT - Estates, Powers and Trusts Article 12 - Actions by Creditors and Other Persons Against Distributees and Testamentary Beneficiaries Part 1 - Liability of Distributees and Testamentary Beneficiaries and Action Thereon 12-1.3 - Extent of Liability; Judgment Debtor's Right to Indemnity and Contribution

§ 12-1.3 Extent  of liability; judgment debtor's right to  indemnity and            contribution  (a) Although subject, under paragraph (a) of 12-1.1, to a judgment  in the  full amount of the value of any property received by him, which may exceed his ratable obligation as described herein, the maximum liability to which a distributee or testamentary beneficiary is subject under this article is his ratable obligation, in the proportion that the  value  of the  decedent's  property  passing to him bears to the value of all such property passing to distributees or beneficiaries, as the case  may  be, within the same order of liability as his under paragraph (a) of 12-1.2.  (b) Any person against whom a judgment is obtained under this article, upon payment thereof, is entitled:  (1)  To  be  indemnified by any person prior to liability to him under paragraph (a) of 12-1.2, who  remains  liable  under  this  article  but against  whom  recovery  was  not  available  for  a reason set forth in subparagraph (b) (2) of 12-1.1.  (2) To contribution, for  any  sum  paid  in  excess  of  his  ratable obligation  as  described  in  paragraph (a), from any person within the same order of liability as his under paragraph (a) of 12-1.2,  but  only to the extent that such person's ratable obligation is unpaid.