liquidating asset definition
liquidating asset means an asset whose value will diminish or
liquidating asset means an asset whose value will diminish or terminate because the asset is expected to produce receipts for a limited time.
liquidating asset means an asset whose value will diminish or terminate because the asset is expected to produce receipts for a period of limited duration. The term includes a leasehold, patent, copyright, royalty right and right to receive payments during a period of more than one year under an arrangement that does not provide for the payment of interest on the unpaid balance. The term does not include a payment subject to section 17 of this act, resources subject to section 19 of this act, timber subject to section 20 of this act, an activity subject to section 22 of this act, an asset subject to section 23 of this act, or any asset for which the trustee establishes a reserve for depreciation under section 26 of this act.
More Definitions of liquidating asset
liquidating asset means an asset whose value will diminish or 722 terminate because the asset is expected to produce receipts for a 723 period of limited duration. The term includes a leasehold,
liquidating asset means an asset whose value will diminish or terminate because the asset is expected to
liquidating asset means an asset the value of which will
liquidating asset means an asset whose value the value of 1550 which will diminish or terminate because the asset is expected 1551 to produce receipts for a period of limited time duration. The 1552 term includes a leasehold, patent, copyright, royalty right, and 1553 right to receive payments during a period of for more than 1 1554 year under an arrangement that does not provide for the payment 1555 of interest on the unpaid balance. The term does not include a 1556 payment subject to s. 738.602, resources subject to s. 738.604, 1557 timber subject to s. 738.605, an activity subject to s. 738.607, 1558 an asset subject to s. 738.608, or any asset for which the 1559 fiduciary establishes a reserve for depreciation under s. 1560 738.703. 1561 (2) This section does not apply to a receipt that is 1562 subject to s. 738.401, s. 738.409, s. 738.411, s. 738.412, s. 1563 738.414, s. 738.415, s. 738.416, or s. 738.503. 1564 (3) A fiduciary shall allocate to income a receipt produced 1565 by a liquidating asset to the extent that the receipt does not 1566 exceed 5 percent of the receipts from the carrying value of the 1567 asset at the beginning of the accounting period and allocate a 1568 liquidating asset and the balance to principal the balance of 1569 the receipt. 1570 (4) The amount Amounts allocated to principal shall reduce 1571 the carrying value of the liquidating asset, but not below zero. 1572 Amounts received in excess of the remaining carrying value must 1573 be allocated to principal. 1574 Section 30. Section 738.604, Florida Statutes, is 1575 transferred, renumbered as section 738.411, Florida Statutes, 1576 and amended to read: 1577 738.411 738.604 Minerals, water, and other natural