State Codes and Statutes
Statutes > Missouri > T31 > C469 > 469_431Rental property, allocation to income.
469.431. To the extent that a trustee accounts for receipts fromrental property pursuant to this section, the trustee shall allocate toincome an amount received as rent of real or personal property, includingan amount received for cancellation or renewal of a lease. An amountreceived as a refundable deposit, including a security deposit or a depositthat is to be applied as rent for future periods, shall be added toprincipal and held subject to the terms of the lease and is not availablefor distribution to a beneficiary until the trustee's contractualobligations have been satisfied with respect to that amount.
(L. 2001 H.B. 241)
