Md. Code, Estates and Trusts § 15-525

in effect

(a) In this section, “depreciation” means a reduction in value due to wear, tear, decay, corrosion, or gradual obsolescence of a fixed asset having a useful life of more than 1 year. (b) A trustee may transfer to principal a reasonable amount of the net cash receipts from a principal asset that is subject to depreciation, but may not transfer any amount for depreciation: (1) Of that portion of real property used or available for use by a beneficiary as a residence or of tangible personal property held or made available for the personal use or enjoyment of a beneficiary; (2) During the administration of a decedent’s estate; or (3) Under this section if the trustee is accounting under § 15-510 of this subtitle for the business or activity in which the asset is used. (c) An amount transferred to principal need not be held as a separate fund.

Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=get&section=15-525&enactments=falseFetched: 10/17/2026