reglab/housing_qa huggingface dataset:
NH Rev Stat § 564-C:4-413 (2021)
2021 New Hampshire Revised Statutes|Title LVI - Probate Courts and Decedents' Estates|Title 564-C - Uniform Principal and Income Act|Section 564-C:4-413 - Property Not Productive of Income.

    564-C:4-413 Property Not Productive of Income. –||(a) If a marital deduction is allowed for all or part of a trust whose assets consist substantially of property that does not provide the spouse with sufficient income from or use of the trust assets, and if the amounts that the trustee transfers from principal to income under RSA 564-C:1-104 and distributes to the spouse from principal pursuant to the terms of the trust are insufficient to provide the spouse with the beneficial enjoyment required to obtain the marital deduction, the spouse may require the trustee within a reasonable time from being notified by the spouse to make property productive of income, convert property within a reasonable time or exercise the power conferred by RSA 564-C:1-104(a). The trustee may decide which action or combination of actions set forth above to take without regard to the specific action or actions requested by the spouse, if any.||(b) In cases not governed by subsection (a), proceeds from the sale or other disposition of an asset are principal without regard to the amount of income the asset produces during any accounting period.|||Source. 2006, 320:68, eff. Aug. 19, 2006.|
NH Rev Stat § 564-C:4-414 (2021)
2021 New Hampshire Revised Statutes|Title LVI - Probate Courts and Decedents' Estates|Title 564-C - Uniform Principal and Income Act|Section 564-C:4-414 - Derivatives and Options.

    564-C:4-414 Derivatives and Options. –||(a) In this section, "derivative" means a contract or financial instrument or a combination of contracts and financial instruments which gives a trust the right or obligation to participate in some or all changes in the price of a tangible or intangible asset or group of assets, or changes in a rate, an index of prices or rates, or other market indicator for an asset or a group of assets.||(b) To the extent that a trustee does not account under RSA 564-C:4-403 for transactions in derivatives, the trustee shall allocate to principal receipts from and disbursements made in connection with those transactions.||(c) If a trustee grants an option to buy property from the trust, whether or not the trust owns the property when the option is granted, grants an option that permits another person to sell property to the trust, or acquires an option to buy property for the trust or an option to sell an asset owned by the trust, and the trustee or other owner of the asset is required to deliver the asset if the option is exercised, an amount received for granting the option must be allocated to principal. An amount paid to acquire the option must be paid from principal. A gain or loss realized upon the exercise of an option, including an option granted to a settlor of the trust for services rendered, must be allocated to principal.|||Source. 2006, 320:68, eff. Aug. 19, 2006.|
NH Rev Stat § 564-C:4-415 (2021)
2021 New Hampshire Revised Statutes|Title LVI - Probate Courts and Decedents' Estates|Title 564-C - Uniform Principal and Income Act|Section 564-C:4-415 - Asset-Backed Securities.

    564-C:4-415 Asset-Backed Securities. –||(a) In this section, "asset-backed security" means an asset whose value is based upon the right it gives the owner to receive distributions from the proceeds of financial assets that provide collateral for the security. The term includes an asset that gives the owner the right to receive from the collateral financial assets only the interest or other current return or only the proceeds other than interest or current return. The term does not include an asset to which RSA 564-C:4-401 or RSA 564 C: 4-409 applies.||(b) If a trust receives a payment from interest or other current return and from other proceeds of the collateral financial assets, the trustee shall allocate to income the portion of the payment which the payer identifies as being from interest or other current return and shall allocate the balance of the payment to principal.||(c) If a trust receives one or more payments in exchange for the trust's entire interest in an asset-backed security in one accounting period, the trustee shall allocate the payments to principal. If a payment is one of a series of payments that will result in the liquidation of the trust's interest in the security over more than one accounting period, the trustee shall allocate 10 percent of the payment to income and the balance to principal.|||Source. 2006, 320:68, eff. Aug. 19, 2006.|
NH Rev Stat § 564-C:5-501 (2021)
2021 New Hampshire Revised Statutes|Title LVI - Probate Courts and Decedents' Estates|Title 564-C - Uniform Principal and Income Act|Section 564-C:5-501 - Disbursements from Income.

    564-C:5-501 Disbursements from Income. –||A trustee shall make the following disbursements from income to the extent that they are not disbursements to which RSA 564-C:2-201(2)(B) or (C) applies:||(a) Except as otherwise ordered by a court, so much of the compensation of the trustee and of any person providing investment advisory or custodial services to the trustee, and so much of the expenses for accounting, judicial proceedings, or other matters that involve the income and remainder interests as shall be determined by the trustee.||(b) 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 expenses of a proceeding or other matter that concerns primarily the income interest; and||(c) Recurring premiums on insurance covering the loss of a principal asset or the loss of income from or use of the asset.|||Source. 2006, 320:68, eff. Aug. 19, 2006. 2008, 374:22, eff. Sept. 9, 2008.|
NH Rev Stat § 564-C:5-502 (2021)
2021 New Hampshire Revised Statutes|Title LVI - Probate Courts and Decedents' Estates|Title 564-C - Uniform Principal and Income Act|Section 564-C:5-502 - Disbursements from Principal.

    564-C:5-502 Disbursements from Principal. –||(a) A trustee shall make the following disbursements from principal:||(1) Such of the disbursements described in paragraph (a) of RSA 564-C:5-501 as are not charged to income;||(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) expenses of a proceeding that concerns 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 RSA 564-C:5-501(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.|||Source. 2006, 320:68, eff. Aug. 19, 2006. 2008, 374:23, eff. Sept. 9, 2008.|
NH Rev Stat § 564-C:5-503 (2021)
2021 New Hampshire Revised Statutes|Title LVI - Probate Courts and Decedents' Estates|Title 564-C - Uniform Principal and Income Act|Section 564-C:5-503 - Transfers from Income to Principal for Depreciation.

    564-C:5-503 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 RSA 564-C:4-403 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.|||Source. 2006, 320:68, eff. Aug. 19, 2006.|
NH Rev Stat § 564-C:5-504 (2021)
2021 New Hampshire Revised Statutes|Title LVI - Probate Courts and Decedents' Estates|Title 564-C - Uniform Principal and Income Act|Section 564-C:5-504 - Transfers from Income to Reimburse Principal.

    564-C:5-504 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 subsection (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 RSA 564-C:5-502(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 subsection (a).|||Source. 2006, 320:68, eff. Aug. 19, 2006.|
NH Rev Stat § 564-C:5-505 (2021)
2021 New Hampshire Revised Statutes|Title LVI - Probate Courts and Decedents' Estates|Title 564-C - Uniform Principal and Income Act|Section 564-C:5-505 - Income Taxes.

    564-C:5-505 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 subsections (c)(1) and (2)(A).||(d) For purposes of this section, receipts 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.|||Source. 2006, 320:68, eff. Aug. 19, 2006.|
NH Rev Stat § 564-C:5-506 (2021)
2021 New Hampshire Revised Statutes|Title LVI - Probate Courts and Decedents' Estates|Title 564-C - Uniform Principal and Income Act|Section 564-C:5-506 - Adjustments Between Principal and Income Because of Taxes.

    564-C:5-506 Adjustments Between Principal and Income Because of Taxes. –||(a) 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, other than those described in subsection (b), 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.||(b) If the amount of an estate tax marital deduction or charitable contribution deduction is reduced because a fiduciary deducts an amount paid from principal for income tax purposes instead of deducting it for estate tax purposes, and as a result estate taxes paid from principal are increased and income taxes paid by an estate, trust, or beneficiary are decreased, each estate, trust, or beneficiary that benefits from the decrease in income tax shall reimburse the principal from which the increase in estate tax is paid. The total reimbursement must equal the increase in the estate tax to the extent that the principal used to pay the increase would have qualified for a marital deduction or charitable contribution deduction but for the payment. The proportionate share of the reimbursement for each estate, trust, or beneficiary whose income taxes are reduced must be the same as its proportionate share of the total decrease in income tax. An estate or trust shall reimburse principal from income.|||Source. 2006, 320:68, eff. Aug. 19, 2006.|
NH Rev Stat § 564-C:6-601 (2021)
2021 New Hampshire Revised Statutes|Title LVI - Probate Courts and Decedents' Estates|Title 564-C - Uniform Principal and Income Act|Section 564-C:6-601 - Severability Clause.

    564-C:6-601 Severability Clause. –||If any provision of this chapter or its application to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of this chapter which can be given effect without the invalid provision or application, and to this end the provisions of this chapter are severable.|||Source. 2006, 320:68, eff. Aug. 19, 2006.|
NH Rev Stat § 564-C:6-602 (2021)
2021 New Hampshire Revised Statutes|Title LVI - Probate Courts and Decedents' Estates|Title 564-C - Uniform Principal and Income Act|Section 564-C:6-602 - Application of Chapter to Trusts and Estates.

    564-C:6-602 Application of Chapter to Trusts and Estates. –||(a) The effective date of this chapter shall be January 1, 2007.||(b) Except as otherwise provided in this chapter, on the effective date of this chapter, the chapter shall apply:||(1) to every inter vivos trust created on or after the effective date of this chapter except as otherwise expressly provided in the terms of the trust or in this chapter;||(2) to any inter vivos trust created before the effective date of this chapter upon the election of the trustee to apply this chapter made in writing and delivered to the beneficiaries then entitled to receive income and principal from the trust;||(3) to any estate or testamentary trust of a decedent who dies on or after the effective date of this chapter; and||(4) to any other estate or testamentary trust upon the approval by a court of competent jurisdiction, upon either (A) a petition filed by an interested person or (B) the court on its own motion.||(c) Nothing in this section imposes a duty on the trustee or any other fiduciary to make an election under this section, and the trustee or any other fiduciary is not liable for failing to make an election under this section.||(d) Nothing in this chapter shall be construed to affect or change the form of accounting required under the rules of the probate court.|||Source. 2006, 320:68, eff. Aug. 19, 2006. 2008, 374:24, eff. Sept. 9, 2008.|
NH Rev Stat § 564-E:101 (2021)
2021 New Hampshire Revised Statutes|Title LVI - Probate Courts and Decedents' Estates|Title 564-E - Uniform Power of Attorney Act|Section 564-E:101 - Short Title.

    564-E:101 Short Title. –||This chapter may be cited as the Uniform Power of Attorney Act.|||Source. 2017, 178:1, eff. Jan. 1, 2018.|
NH Rev Stat § 564-E:103 (2021)
2021 New Hampshire Revised Statutes|Title LVI - Probate Courts and Decedents' Estates|Title 564-E - Uniform Power of Attorney Act|Section 564-E:103 - Applicability.

    564-E:103 Applicability. –||This chapter applies to all powers of attorney except:||(1) a power to the extent it is coupled with an interest in the subject of the power, including a power given to or for the benefit of a creditor in connection with a credit transaction;||(2) a power to make health-care decisions;||(3) a proxy or other delegation to exercise voting rights or management rights with respect to an entity; and||(4) a power created on a form prescribed by a government or governmental subdivision, agency, or instrumentality for a governmental purpose.|||Source. 2017, 178:1, eff. Jan. 1, 2018.|
NH Rev Stat § 564-E:104 (2021)
2021 New Hampshire Revised Statutes|Title LVI - Probate Courts and Decedents' Estates|Title 564-E - Uniform Power of Attorney Act|Section 564-E:104 - Power of Attorney is Durable.

    564-E:104 Power of Attorney is Durable. –||A power of attorney created under this chapter is durable unless it expressly provides that it is terminated by the incapacity of the principal.|||Source. 2017, 178:1, eff. Jan. 1, 2018.|
NH Rev Stat § 564-E:105 (2021)
2021 New Hampshire Revised Statutes|Title LVI - Probate Courts and Decedents' Estates|Title 564-E - Uniform Power of Attorney Act|Section 564-E:105 - Execution of Power of Attorney.

    564-E:105 Execution of Power of Attorney. –||(a) With regard to a general power of attorney:||(1) The power of attorney must be signed (other than by electronic signature) by the principal or in the principal's conscious presence by another individual directed by the principal to sign the principal's name on the power of attorney and must be acknowledged before a notary public or other individual authorized by law to take acknowledgments.||(2) A disclosure statement in substantially the following form, signed (other than by electronic signature) by the principal or by another individual directed by the principal to sign the principal's name, must be affixed to the power of attorney:||INFORMATION CONCERNING THE POWER OF ATTORNEY||THIS IS AN IMPORTANT LEGAL DOCUMENT. BEFORE SIGNING THIS DOCUMENT YOU SHOULD KNOW THESE IMPORTANT FACTS:||Notice to the Principal: As the "Principal," you are using this Power of Attorney to grant power to another person (called the "Agent") to make decisions, including, but not limited to, decisions concerning your money, property, or both, and to use your money, property, or both on your behalf. If this Power of Attorney does not limit the powers that you give to your Agent, your Agent will have broad and sweeping powers to sell or otherwise dispose of your property, and to spend your money without advance notice to you or approval by you. Unless you have expressly provided otherwise in this Power of Attorney, your Agent will have these powers before you become incapacitated, and unless you have expressly provided otherwise in this Power of Attorney, your Agent will continue to have these powers after you become incapacitated. You have the right to retain this Power of Attorney and to release it later or to request that another person retain this Power of Attorney on your behalf and release it only if one or more conditions specified in advance by you are satisfied. You have the right to revoke or take back this Power of Attorney at any time, so long as you are of sound mind. If there is anything about this Power of Attorney that you do not understand, you should seek professional advice.||(b) A power of attorney to convey real estate must be signed (other than by electronic signature) by the principal or in the principal's conscious presence by another individual directed by the principal to sign the principal's name on the general power of attorney and must be acknowledged before a notary public or other individual authorized by law to take acknowledgments.||(c) Any other power of attorney must be signed by the principal or in the principal's conscious presence by another individual directed by the principal to sign the principal's name on the power of attorney.||(d) A signature on a power of attorney is presumed to be genuine if the principal acknowledges the signature before a notary public or other individual authorized by law to take acknowledgments.|||Source. 2017, 178:1, eff. Jan. 1, 2018.|
NH Rev Stat § 564-E:106 (2021)
2021 New Hampshire Revised Statutes|Title LVI - Probate Courts and Decedents' Estates|Title 564-E - Uniform Power of Attorney Act|Section 564-E:106 - Validity of Power of Attorney.

    564-E:106 Validity of Power of Attorney. –||(a) A power of attorney executed in this state on or after the effective date of this chapter is valid if its execution complies with RSA 564-E:105.||(b) A power of attorney executed in this state before the effective date of this chapter is valid if its execution complied with the law of this state as it existed at the time of execution.||(c) A power of attorney executed other than in this state is valid in this state if, when the power of attorney was executed, the execution complied with:||(1) the law of the jurisdiction that determines the meaning and effect of the power of attorney pursuant to RSA 564-E:107; or||(2) the requirements for a military power of attorney pursuant to 10 U.S.C. section 1044b, as amended.||(d) Except as otherwise provided in the power of attorney or by statute other than this chapter, a photocopy or electronically transmitted copy of an original power of attorney has the same effect as the original.|||Source. 2017, 178:1, eff. Jan. 1, 2018.|
NH Rev Stat § 564-E:107 (2021)
2021 New Hampshire Revised Statutes|Title LVI - Probate Courts and Decedents' Estates|Title 564-E - Uniform Power of Attorney Act|Section 564-E:107 - Meaning and Effect of Power of Attorney.

    564-E:107 Meaning and Effect of Power of Attorney. –||The meaning and effect of a power of attorney is determined by the law of the jurisdiction indicated in the power of attorney and, in the absence of an indication of jurisdiction, by the law of the jurisdiction in which the power of attorney was executed.|||Source. 2017, 178:1, eff. Jan. 1, 2018.|