1. (1) To the extent not allocated to income under this subtitle, assets received from a transferor during the transferor's lifetime, a decedent's estate, a trust with a terminating income interest, or a payer under a contract naming the trust or its trustee as beneficiary;
2. (2) Money or other property received from the sale, exchange, liquidation, or change in form of a principal asset, including realized profit, subject to this subtitle;
3. (3) Amounts recovered from third parties to reimburse the trust because of disbursements described in § 15-524(a)(7) of this subtitle or for other reasons to the extent not based on the loss of income;
4. (4) Proceeds of property taken by eminent domain, but a separate award made for the loss of income with respect to an accounting period during which a current income beneficiary had a mandatory income interest is income;
5. (5) Net income received in an accounting period during which there is no beneficiary to whom a trustee may or must distribute income; and
6. (6) Other receipts as provided in Part III of this subtitle.

A trustee shall allocate to principal:

Added by Acts 2000, c. 292, § 2, eff. Oct. 1, 2000. Amended by Acts 2025, c. 223, § 1, eff. Oct. 1, 2025; Acts 2025, c. 224, § 1, eff. Oct. 1, 2025.