2000 Minnesota Code
Chapters 500 - 515B Property Interests and Liens
Chapter 501B Trusts
Section 501B.68 Timber.
501B.68 Timber.
If a part of the principal consists of land from which merchantable timber may be removed, the receipts from taking the timber from the land must be allocated in accordance with what is reasonable and equitable in view of the interests of those entitled to income as well as of those entitled to principal. The amount allocated to principal must be presumed to be reasonable and equitable if it is neither substantially more nor less than the amount allowable as a deduction for depletion, amortization, depreciation, or similar costs under the Internal Revenue Code of 1986.
HIST: 1989 c 340 art 1 s 57; 1990 c 581 s 6
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