Okla. Stat. tit. 60, § 60-175.301
This is the official text of Okla. Stat. tit. 60, § 60-175.301, part of Oklahoma’s Stat. tit. 60, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 60,." Browse the sections below, each linked to its official government source.
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When right to income begins and ends
Official statutory text
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
Oklahoma Statutes - Title 60. Property Page 92
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 subsection D of this section, 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.
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
Oklahoma Statutes - Title 60. Property Page 92
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 subsection D of this section, 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.
Status: in_force · Read it on the official government site
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