---
title: O.C.G.A. § 53-12-421. Rental property.
collection: code
id: 53-12-421
cite_as: O.C.G.A. § 53-12-421 (2025)
canonical_url: https://georgiacommons.org/code/53-12-421
md_url: https://georgiacommons.org/code/53-12-421.md
text_url: https://georgiacommons.org/code/53-12-421/text
source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t52-t53-(v40)-2021-pdf.pdf?sfvrsn=d23ba203_0#page=947
date: 2025
status: active
corpus_version: 2025-supplement-89aa39ab3c68
license: CC0-1.0
publisher: Georgia Commons, an independent project of Georgia Civic Data. Not the State of Georgia. Not legal advice.
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version: the only printed version
in_force: true
current_through: Including Acts of the 2025 Regular Session of the General Assembly
heading_path: WILLS, TRUSTS, AND ADMINISTRATION OF ESTATES / TRUSTS / GEORGIA PRINCIPAL AND INCOME ACT / ALLOCATION OF RECEIPTS DURING ADMINISTRATION OF TRUST / Receipts Not Normally Apportioned
---

# O.C.G.A. § 53-12-421. Rental property.

To the extent that a trustee accounts for receipts from rental property pursuant to this Code section, the trustee shall allocate to income an amount received as rent of real or personal property, including an amount received for cancellation or renewal of a lease. An amount received as a refundable deposit, including a security deposit or a deposit that is to be applied as rent for future periods, shall be added to principal and held subject to the terms of the lease and shall not be available for distribution to a beneficiary until the trustee’s contractual obligations have been satisfied with respect to such amount.

## History

Code 1981, § 53-12-421, enacted by Ga. L. 2010, p. 579, § 1/SB 131.