reglab/housing_qa huggingface dataset:
FL Stat § 738.704 (2021)
2021 Florida Statutes|Title XLII - Estates and Trusts|Chapter 738 - Principal and Income|738.704 - Transfers From Income to Reimburse Principal.

738.704 Transfers from income to reimburse principal.—(1) If a fiduciary makes or expects to make a principal disbursement described in this section, the fiduciary 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.(2) Principal disbursements to which subsection (1) applies include the following, but only to the extent the fiduciary has not been and does not expect to be reimbursed by a third party:(a) An amount chargeable to income but paid from principal because the amount is unusually large.(b) Disbursements made to prepare property for rental, including tenant allowances, leasehold improvements, and broker’s commissions.(c) Disbursements described in s. 738.702(1)(g).(3) If the asset the ownership of which gives rise to the disbursements becomes subject to a successive income interest after an income interest ends, a fiduciary may continue to transfer amounts from income to principal as provided in subsection (1).(4) To the extent principal cash is not sufficient to pay the principal balance of payments due on mortgaged property, income may be applied to such payment in order to avoid a default on any mortgage or security interest securing the property. Income shall be reimbursed for such payments out of the first available principal cash. If the asset the ownership of which gives rise to the disbursements described in this subsection becomes subject to a successive income interest after an income interest ends, all rights of the initial income interest shall lapse, and amounts remaining due from principal shall not be a lien on the assets of the trust.History.—s. 1, ch. 2002-42; s. 30, ch. 2012-49.
FL Stat § 738.705 (2021)
2021 Florida Statutes|Title XLII - Estates and Trusts|Chapter 738 - Principal and Income|738.705 - Income Taxes.

738.705 Income taxes.—(1) A tax required to be paid by a fiduciary based on receipts allocated to income shall be paid from income.(2) A tax required to be paid by a fiduciary based on receipts allocated to principal shall be paid from principal, even if the tax is called an income tax by the taxing authority.(3) A tax required to be paid by a fiduciary on the trust’s or estate’s share of an entity’s taxable income shall be paid proportionately:(a) From income to the extent receipts from the entity are allocated to income.(b) From principal to the extent receipts from the entity are allocated to principal.(c) From principal to the extent that the income taxes payable by the trust or estate exceed the total receipts from the entity.(4) After applying subsections (1)-(3), the fiduciary shall adjust income or principal receipts to the extent that the trust’s or estate’s income taxes are reduced, but not eliminated, because the trust or estate receives a deduction for payments made to a beneficiary. The amount distributable to that beneficiary as income as a result of this adjustment shall be equal to the cash received by the trust or estate, reduced, but not below zero, by the entity’s taxable income allocable to the trust or estate multiplied by the trust’s or estate’s income tax rate. The reduced amount shall be divided by the difference between 1 and the trust’s or estate’s income tax rate in order to determine the amount distributable to that beneficiary as income before giving effect to other receipts or disbursements allocable to that beneficiary’s interest.History.—s. 1, ch. 2002-42; s. 31, ch. 2012-49.
FL Stat § 738.706 (2021)
2021 Florida Statutes|Title XLII - Estates and Trusts|Chapter 738 - Principal and Income|738.706 - Adjustments Between Principal and Income Because of Taxes.

738.706 Adjustments between principal and income because of taxes.—(1) 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:(a) Elections and decisions, other than those described in paragraph (b), that the fiduciary makes from time to time regarding tax matters;(b) 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(c) 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.(2) 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 such amount 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 shall equal the increase in the estate tax to the extent 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 shall be the same as such estate’s, trust’s, or beneficiary’s proportionate share of the total decrease in income tax. An estate or trust shall reimburse principal from income.History.—s. 1, ch. 2002-42.
FL Stat § 738.802 (2021)
2021 Florida Statutes|Title XLII - Estates and Trusts|Chapter 738 - Principal and Income|738.802 - Uniformity of Application and Construction.

738.802 Uniformity of application and construction.—In applying and construing this act, consideration shall be given to the need to promote uniformity of the law with respect to the act’s subject matter among states that enact such act.History.—s. 1, ch. 2002-42.
FL Stat § 738.803 (2021)
2021 Florida Statutes|Title XLII - Estates and Trusts|Chapter 738 - Principal and Income|738.803 - Severability.

738.803 Severability.—If any provision of this chapter or its application to any person or circumstance is held invalid, the invalidity shall 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.History.—s. 1, ch. 2002-42.
FL Stat § 738.804 (2021)
2021 Florida Statutes|Title XLII - Estates and Trusts|Chapter 738 - Principal and Income|738.804 - Application.

738.804 Application.—Except as provided in the trust instrument, the will, or this chapter, this chapter shall apply to any receipt or expense received or incurred and any disbursement made after January 1, 2003, by any trust or decedent’s estate, whether established before or after January 1, 2003, and whether the asset involved was acquired by the trustee or personal representative before or after January 1, 2003. Receipts or expenses received or incurred and disbursements made before January 1, 2003, shall be governed by the law of this state in effect at the time of the event, except as otherwise expressly provided in the will or terms of the trust or in this chapter.History.—s. 1, ch. 2002-42.
FL Stat § 739.101 (2021)
2021 Florida Statutes|Title XLII - Estates and Trusts|Chapter 739 - Florida Uniform Disclaimer of Property Interests Act|739.101 - Short Title.

739.101 Short title.—This chapter may be cited as the “Florida Uniform Disclaimer of Property Interests Act.”History.—s. 1, ch. 2005-108.
FL Stat § 739.102 (2021)
2021 Florida Statutes|Title XLII - Estates and Trusts|Chapter 739 - Florida Uniform Disclaimer of Property Interests Act|739.102 - Definitions.

739.102 Definitions.—As used in this chapter, the term:(1) “Benefactor” means the creator of the interest that is subject to a disclaimer.(2) “Beneficiary designation” means an instrument, other than an instrument creating or amending a trust, naming the beneficiary of:(a) An annuity or insurance policy;(b) An account with a designation for payment on death;(c) A security registered in beneficiary form;(d) A pension, profit-sharing, retirement, or other employment-related benefit plan; or(e) Any other nonprobate transfer at death.(3) “Disclaimant” means the person to whom a disclaimed interest or power would have passed had the disclaimer not been made.(4) “Disclaimed interest” means the interest that would have passed to the disclaimant had the disclaimer not been made.(5) “Disclaimer” means the refusal to accept an interest in or power over property. The term includes a renunciation.(6) “Fiduciary” means a personal representative, trustee, agent acting under a power of attorney, guardian, or other person authorized to act as a fiduciary with respect to the property of another person.(7) “Future interest” means an interest that takes effect in possession or enjoyment, if at all, later than the time of its creation.(8) “Insolvent” means, solely for purposes of this chapter, that the sum of a person’s debts is greater than all of the person’s assets at fair valuation and that the person is generally not paying his or her debts as they become due. For purposes of this subsection, the term “assets” has the same meaning as that provided in s. 726.102.(9) “Jointly held property” means property held in the names of two or more persons under an arrangement in which all holders have concurrent interests and under which the last surviving holder is entitled to the whole of the property. Jointly held property does not include property held as tenants by the entirety.(10) “Person” includes individuals, ascertained and unascertained, living or not living, whether entitled to an interest by right of intestacy or otherwise; a government, governmental subdivision, agency, or instrumentality; and a public corporation.(11) “Time of distribution” means the time when a disclaimed interest would have taken effect in possession or enjoyment.(12) “Trust” means:(a) An express trust (including an honorary trust or a trust under s. 736.0408), charitable or noncharitable, with additions thereto, whenever and however created; and(b) A trust created pursuant to a statute, judgment, or decree which requires the trust be administered in the manner of an express trust.As used in this chapter, the term “trust” does not include a constructive trust or a resulting trust.History.—s. 1, ch. 2005-108; s. 43, ch. 2006-217; s. 13, ch. 2009-115.
FL Stat § 739.103 (2021)
2021 Florida Statutes|Title XLII - Estates and Trusts|Chapter 739 - Florida Uniform Disclaimer of Property Interests Act|739.103 - Scope.

739.103 Scope.—This chapter applies to disclaimers of any interest in or power over property, whenever created. Except as provided in s. 739.701, this chapter is the exclusive means by which a disclaimer may be made under Florida law.History.—s. 1, ch. 2005-108.
FL Stat § 739.104 (2021)
2021 Florida Statutes|Title XLII - Estates and Trusts|Chapter 739 - Florida Uniform Disclaimer of Property Interests Act|739.104 - Power to Disclaim; General Requirements; When Irrevocable.

739.104 Power to disclaim; general requirements; when irrevocable.—(1) A person may disclaim, in whole or in part, conditionally or unconditionally, any interest in or power over property, including a power of appointment. A person may disclaim the interest or power even if its creator imposed a spendthrift provision or similar restriction on transfer or a restriction or limitation on the right to disclaim. A disclaimer shall be unconditional unless the disclaimant explicitly provides otherwise in the disclaimer.(2) With court approval, a fiduciary may disclaim, in whole or part, any interest in or power over property, including a power of appointment, except that a disclaimer of a power arising under s. 739.201(4) does not require court approval. Without court approval, a fiduciary may disclaim, in whole or in part, any interest in or power over property, including a power of appointment, if and to the extent that the instrument creating the fiduciary relationship explicitly grants the fiduciary the right to disclaim. In the absence of a court-appointed guardian, notwithstanding anything in chapter 744 to the contrary, without court approval, a natural guardian under s. 744.301 may disclaim on behalf of a minor child of the natural guardian, in whole or in part, any interest in or power over property, including a power of appointment, which the minor child is to receive solely as a result of another disclaimer, but only if the disclaimed interest or power does not pass to or for the benefit of the natural guardian as a result of the disclaimer.(3) To be effective, a disclaimer must be in writing, declare the writing as a disclaimer, describe the interest or power disclaimed, and be signed by the person making the disclaimer and witnessed and acknowledged in the manner provided for deeds of real estate to be recorded in this state. In addition, for a disclaimer to be effective, an original of the disclaimer must be delivered or filed in the manner provided in s. 739.301.(4) A partial disclaimer may be expressed as a fraction, percentage, monetary amount, term of years, limitation of a power, or any other interest or estate in the property.(5) A disclaimer becomes irrevocable when any conditions to which the disclaimant has made the disclaimer subject are satisfied and when the disclaimer is delivered or filed pursuant to s. 739.301 or it becomes effective as provided in ss. 739.201-739.207, whichever occurs later.(6) A disclaimer made under this chapter is not a transfer, assignment, or release.History.—s. 1, ch. 2005-108; s. 103, ch. 2006-1; s. 14, ch. 2009-115.
FL Stat § 739.201 (2021)
2021 Florida Statutes|Title XLII - Estates and Trusts|Chapter 739 - Florida Uniform Disclaimer of Property Interests Act|739.201 - Disclaimer of Interest in Property.

739.201 Disclaimer of interest in property.—Except for a disclaimer governed by s. 739.202, s. 739.203, or s. 739.204, the following rules apply to a disclaimer of an interest in property:(1) The disclaimer takes effect as of the time the instrument creating the interest becomes irrevocable or, if the interest arose under the law of intestate succession, as of the time of the intestate’s death.(2) The disclaimed interest passes according to any provision in the instrument creating the interest providing explicitly for the disposition of the interest, should it be disclaimed, or of disclaimed interests in general.(3) If the instrument does not contain a provision described in subsection (2), the following rules apply:(a) If the disclaimant is an individual, the disclaimed interest passes as if the disclaimant had died immediately before the interest was created, unless under the governing instrument or other applicable law the disclaimed interest is contingent on surviving to the time of distribution, in which case the disclaimed interest passes as if the disclaimant had died immediately before the time for distribution. However, if, by law or under the governing instrument, the descendants of the disclaimant would share in the disclaimed interest by any method of representation had the disclaimant died before the time of distribution, the disclaimed interest passes only to the descendants of the disclaimant who survive the time of distribution. For purposes of this subsection, a disclaimed interest is created at the death of the benefactor or such earlier time, if any, that the benefactor’s transfer of the interest is a completed gift for federal gift tax purposes. Also for purposes of this subsection, a disclaimed interest in a trust described in s. 733.707(3) shall pass as if the interest had been created under a will.(b) If the disclaimant is not an individual, the disclaimed interest passes as if the disclaimant did not exist.(c) Upon the disclaimer of a preceding interest, a future interest held by a person other than the disclaimant takes effect as if the disclaimant had died or ceased to exist immediately before the time of distribution, but a future interest held by the disclaimant is not accelerated in possession or enjoyment as a result of the disclaimer.(4) In the case of a disclaimer of property over which the disclaimant has a power, in a fiduciary or nonfiduciary capacity, to direct the beneficial enjoyment of the disclaimed property, unless the disclaimer specifically provides to the contrary with reference to this subsection, the disclaimant shall also be deemed to have disclaimed that power unless the power is limited by an ascertainable standard, as defined in s. 736.0103, as in effect when the disclaimer becomes irrevocable.History.—s. 1, ch. 2005-108; s. 15, ch. 2009-115.
FL Stat § 739.202 (2021)
2021 Florida Statutes|Title XLII - Estates and Trusts|Chapter 739 - Florida Uniform Disclaimer of Property Interests Act|739.202 - Disclaimer of Rights of Survivorship in Jointly Held Property.

739.202 Disclaimer of rights of survivorship in jointly held property.—(1) Upon the death of a holder of jointly held property:(a) If, during the deceased holder’s lifetime, the deceased holder could have unilaterally regained a portion of the property attributable to the deceased holder’s contributions without the consent of any other holder, another holder may disclaim, in whole or in part, a fractional share of that portion of the property attributable to the deceased holder’s contributions determined by dividing the number one by the number of joint holders alive immediately after the death of the holder to whose death the disclaimer relates.(b) For all other jointly held property, another holder may disclaim, in whole or in part, a fraction of the whole of the property the numerator of which is one and the denominator of which is the product of the number of joint holders alive immediately before the death of the holder to whose death the disclaimer relates multiplied by the number of joint holders alive immediately after the death of the holder to whose death the disclaimer relates.(2) A disclaimer under subsection (1) takes effect as of the death of the holder of jointly held property to whose death the disclaimer relates.(3) An interest in jointly held property disclaimed by a surviving holder of the property passes as if the disclaimant predeceased the holder to whose death the disclaimer relates.History.—s. 1, ch. 2005-108.
FL Stat § 739.203 (2021)
2021 Florida Statutes|Title XLII - Estates and Trusts|Chapter 739 - Florida Uniform Disclaimer of Property Interests Act|739.203 - Disclaimer of Property Held as Tenancy by the Entirety.

739.203 Disclaimer of property held as tenancy by the entirety.—(1) The survivorship interest in property held as a tenancy by the entirety to which the survivor succeeds by operation of law upon the death of the cotenant may be disclaimed as provided in this chapter. For purposes of this chapter only, the deceased tenant’s interest in property held as a tenancy by the entirety shall be deemed to be an undivided one-half interest.(2) A disclaimer under subsection (1) takes effect as of the death of the deceased tenant to whose death the disclaimer relates.(3) The survivorship interest in property held as a tenancy by the entirety disclaimed by the surviving tenant passes as if the disclaimant had predeceased the tenant to whose death the disclaimer relates.(4) A disclaimer of an interest in real property held as tenants by the entirety does not cause the disclaimed interest to be homestead property for purposes of descent and distribution under ss. 732.401 and 732.4015.History.—s. 1, ch. 2005-108.
FL Stat § 739.204 (2021)
2021 Florida Statutes|Title XLII - Estates and Trusts|Chapter 739 - Florida Uniform Disclaimer of Property Interests Act|739.204 - Disclaimer of Interest by Trustee.

739.204 Disclaimer of interest by trustee.—If a trustee having the power to disclaim under the instrument creating the fiduciary relationship or pursuant to court order disclaims an interest in property that otherwise would have become trust property, the interest does not become trust property.History.—s. 1, ch. 2005-108.
FL Stat § 739.205 (2021)
2021 Florida Statutes|Title XLII - Estates and Trusts|Chapter 739 - Florida Uniform Disclaimer of Property Interests Act|739.205 - Disclaimer of Power of Appointment or Other Power Not Held in a Fiduciary Capacity.

739.205 Disclaimer of power of appointment or other power not held in a fiduciary capacity.—If a holder disclaims a power of appointment or other power not held in a fiduciary capacity, the following rules apply:(1) If the holder has not exercised the power, the disclaimer takes effect as of the time the instrument creating the power becomes irrevocable.(2) If the holder has exercised the power and the disclaimer is of a power other than a presently exercisable general power of appointment, the disclaimer takes effect immediately after the last exercise of the power.(3) The instrument creating the power is construed as if the power expired when the disclaimer became effective.History.—s. 1, ch. 2005-108.
FL Stat § 739.206 (2021)
2021 Florida Statutes|Title XLII - Estates and Trusts|Chapter 739 - Florida Uniform Disclaimer of Property Interests Act|739.206 - Disclaimer by Appointee, Object, or Taker in Default of Exercise of Power of Appointment.

739.206 Disclaimer by appointee, object, or taker in default of exercise of power of appointment.—(1) A disclaimer of an interest in property by an appointee of a power of appointment takes effect as of the time the instrument by which the holder exercises the power becomes irrevocable.(2) A disclaimer of an interest in property by an object, or taker in default of an exercise of a power of appointment, takes effect as of the time the instrument creating the power becomes irrevocable.History.—s. 1, ch. 2005-108.
FL Stat § 739.207 (2021)
2021 Florida Statutes|Title XLII - Estates and Trusts|Chapter 739 - Florida Uniform Disclaimer of Property Interests Act|739.207 - Disclaimer of Power Held in Fiduciary Capacity.

739.207 Disclaimer of power held in fiduciary capacity.—(1) If a fiduciary disclaims a power held in a fiduciary capacity which has not been exercised, the disclaimer takes effect as of the time the instrument creating the power becomes irrevocable.(2) If a fiduciary disclaims a power held in a fiduciary capacity which has been exercised, the disclaimer takes effect immediately after the last exercise of the power.(3) A disclaimer under this section is effective as to another fiduciary if the disclaimer so provides and the fiduciary disclaiming has the authority to bind the estate, trust, or other person for whom the fiduciary is acting, except that a disclaimer of a fiduciary power arising under s. 739.201(4) shall bind only the disclaiming fiduciary.History.—s. 1, ch. 2005-108; s. 16, ch. 2009-115.
FL Stat § 739.401 (2021)
2021 Florida Statutes|Title XLII - Estates and Trusts|Chapter 739 - Florida Uniform Disclaimer of Property Interests Act|739.401 - When Disclaimer Is Permitted.

739.401 When disclaimer is permitted.—A disclaimer may be made at any time unless barred under s. 739.402.History.—s. 1, ch. 2005-108.