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18 chapters · 531 sections in this title.
Miss. Code Ann. § 91-17-410 Liquidating asset
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(a) In this section, “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…
Miss. Code Ann. § 91-17-411 Minerals, water, and other natural resources
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(a) To the extent that a trustee accounts for receipts from an interest in minerals or other natural resources pursuant to this section, the trustee shall allocate them as follows:(1) If received as nominal delay rental or nominal annual rent on a lease, a receipt must be allocat…
Miss. Code Ann. § 91-17-412 Timber
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(a) To the extent that a trustee accounts for receipts from the sale of timber and related products pursuant to this section, the trustee shall allocate the net receipts first to principal, based upon the volume of the timber at the time of transfer to the trust or decedent’s est…
Miss. Code Ann. § 91-17-413 Property not productive of income
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(a) If a marital deduction is allowed for all or part of a trust whose assets consist substantially of property that does not provide the spouse with sufficient income from or use of the trust assets, and if the amounts that the trustee transfers from principal to income under Se…
