{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/64.2-1052.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/64.2-1052.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/64.2-1052.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/64.2-1052.html"}],"law_id":375794,"edition_id":2,"section_id":375794,"structure_id":53444,"section_number":"64.2-1052","catch_line":"Rental property","history":"2022, c. 354.","full_text":"To the extent a fiduciary does not account for the management of rental property as a business under \u00a7 64.2-1050, the fiduciary shall allocate to income an amount received as rent of real or personal property, including an amount received for cancellation or renewal of a lease. An amount received as a refundable deposit, including a security deposit or a deposit that is to be applied as rent for future periods:\n\n1\n\nShall be added to principal and held subject to the terms of the lease, except as otherwise provided by law other than this chapter; and\n\n2\n\nIs not allocated to income or available for distribution to a beneficiary until the fiduciary’s contractual obligations have been satisfied with respect to that amount.\n\n","order_by":null,"text":{"0":{"id":1402991,"text":"To the extent a fiduciary does not account for the management of rental property as a business under \u00a7 64.2-1050, the fiduciary shall allocate to income an amount received as rent of real or personal property, including an amount received for cancellation or renewal of a lease. An amount received as a refundable deposit, including a security deposit or a deposit that is to be applied as rent for future periods:","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"next_prefix":"1"},"1":{"id":1402992,"text":"Shall be added to principal and held subject to the terms of the lease, except as otherwise provided by law other than this chapter; and","type":"section","prefixes":["1"],"prefix":"1","entire_prefix":"1","prefix_anchor":"1","level":1,"prior_prefix":"","next_prefix":"2"},"2":{"id":1402993,"text":"Is not allocated to income or available for distribution to a beneficiary until the fiduciary’s contractual obligations have been satisfied with respect to that amount.","type":"section","prefixes":["2"],"prefix":"2","entire_prefix":"2","prefix_anchor":"2","level":1,"prior_prefix":"1"}},"ancestry":[{"id":53444,"edition_id":2,"name":"Allocation of Receipts: Receipts Not Normally Apportioned","identifier":"5","label":"article","depth":4,"order_by":5,"parent_id":53439,"metadata":{"child_laws":4,"child_structures":0},"date_created":"2026-08-02 03:16:31","date_modified":"2026-08-02 12:37:17","permalink":{"id":1500961,"object_type":"structure","relational_id":53444,"identifier":"5","token":"64.2\/III\/10.1\/5","url":"\/64.2\/III\/10.1\/5\/","edition_id":2,"permalink":0,"preferred":1}},{"id":53439,"edition_id":2,"name":"Uniform Fiduciary Income And Principal Act","identifier":"10.1","label":"chapter","depth":3,"order_by":4,"parent_id":53428,"metadata":{"child_laws":46,"child_structures":10},"date_created":"2026-08-02 03:16:28","date_modified":"2026-08-02 12:37:16","permalink":{"id":1500865,"object_type":"structure","relational_id":53439,"identifier":"10.1","token":"64.2\/III\/10.1","url":"\/64.2\/III\/10.1\/","edition_id":2,"permalink":0,"preferred":1}},{"id":53428,"edition_id":2,"name":"Trusts","identifier":"III","label":"subtitle","depth":2,"order_by":3,"parent_id":53424,"metadata":{"child_laws":232,"child_structures":36},"date_created":"2026-08-02 03:16:27","date_modified":"2026-08-02 12:37:10","permalink":{"id":1500813,"object_type":"structure","relational_id":53428,"identifier":"III","token":"64.2\/III","url":"\/64.2\/III\/","edition_id":2,"permalink":0,"preferred":1}},{"id":53424,"edition_id":2,"name":"Wills, Trusts, and Fiduciaries","identifier":"64.2","label":"title","depth":1,"order_by":136,"parent_id":null,"metadata":{"child_laws":776,"child_structures":114},"date_created":"2026-08-02 03:16:27","date_modified":"2026-08-02 12:37:05","permalink":{"id":1499783,"object_type":"structure","relational_id":53424,"identifier":"64.2","token":"64.2","url":"\/64.2\/","edition_id":2,"permalink":0,"preferred":1}}],"structure_contents":[{"id":375793,"structure_id":53444,"section_number":"64.2-1051","catch_line":"Principal receipts","url":"\/64.2-1051\/","token":"64.2\/III\/10.1\/5\/64.2-1051","metadata":false},{"id":375794,"structure_id":53444,"section_number":"64.2-1052","catch_line":"Rental property","url":"\/64.2-1052\/","token":"64.2\/III\/10.1\/5\/64.2-1052","metadata":false},{"id":375795,"structure_id":53444,"section_number":"64.2-1053","catch_line":"Receipt on obligation to be paid in money","url":"\/64.2-1053\/","token":"64.2\/III\/10.1\/5\/64.2-1053","metadata":false},{"id":375796,"structure_id":53444,"section_number":"64.2-1054","catch_line":"Insurance policy or contract","url":"\/64.2-1054\/","token":"64.2\/III\/10.1\/5\/64.2-1054","metadata":false}],"previous_section":{"id":375793,"structure_id":53444,"section_number":"64.2-1051","catch_line":"Principal receipts","url":"\/64.2-1051\/","token":"64.2\/III\/10.1\/5\/64.2-1051","metadata":false},"next_section":{"id":375795,"structure_id":53444,"section_number":"64.2-1053","catch_line":"Receipt on obligation to be paid in money","url":"\/64.2-1053\/","token":"64.2\/III\/10.1\/5\/64.2-1053","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/64.2-1052\/","history_text":"

This law was first created in 2022. The record of its establishment is cataloged in chapter 354<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year.<\/p>","references":false,"refers_to":[{"id":375792,"section_number":"64.2-1050","catch_line":"Business or other activity conducted by fiduciary","order_by":null,"url":"\/64.2-1050\/"}],"permalink":{"id":1500967,"object_type":"law","relational_id":375794,"identifier":"64.2-1052","token":"64.2\/III\/10.1\/5\/64.2-1052","url":"\/64.2-1052\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/64.2-1052\/","token":"64.2\/III\/10.1\/5\/64.2-1052","dublin_core":{"Title":"Rental property","Type":"Text","Format":"text\/html","Identifier":"\u00a7 64.2-1052","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

To the extent a fiduciary<\/span> does not account for the management of rental property as a business under \u00a7 64.2-1050<\/a>, the fiduciary<\/span> shall allocate to income<\/span> an amount received as rent of real or personal property, including an amount received for cancellation or renewal of a lease. An amount received as a refundable deposit, including a security deposit or a deposit that is to be applied as rent for future periods:<\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> Shall be added to principal<\/span> and held subject to the terms of the lease, except as otherwise provided by law<\/span> other than this chapter; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> Is not allocated to income<\/span> or available for distribution<\/span> to a beneficiary until the fiduciary<\/span>’s contractual obligations have been satisfied with respect to that amount. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nRENTAL PROPERTY (\u00a7 64.2-1052)\n\nTo the extent a fiduciary does not account for the management of rental property\nas a business under \u00a7 64.2-1050, the fiduciary shall allocate to income an\namount received as rent of real or personal property, including an amount\nreceived for cancellation or renewal of a lease. An amount received as a\nrefundable deposit, including a security deposit or a deposit that is to be\napplied as rent for future periods:\n\n1. Shall be added to principal and held subject to the terms of the lease,\nexcept as otherwise provided by law other than this chapter; and\n\n2. Is not allocated to income or available for distribution to a beneficiary\nuntil the fiduciary’s contractual obligations have been satisfied with\nrespect to that amount.\n\nHISTORY: 2022, c. 354.","edition":{"id":2,"name":"2026","slug":"2026","date_created":"2026-07-16 18:40:23","date_modified":"2026-08-02 15:14:36","current":1,"order_by":2,"last_import":"2026-08-02 12:37:30"}}