{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/64.2-1073.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/64.2-1073.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/64.2-1073.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/64.2-1073.html"}],"law_id":62227,"edition_id":1,"section_id":62227,"structure_id":15286,"section_number":"64.2-1073","catch_line":"When right to income begins and ends","history":"2022, c. 354.","full_text":"A\n\nAn income beneficiary is entitled to net income in accordance with the terms of the trust from the date an income interest begins. The income interest begins on the date specified in the terms of the trust or, if no date is specified, on the date an asset becomes subject to:1\n\nThe trust for the current income beneficiary; or2\n\nA successive interest for a successor beneficiary.B\n\nAn asset becomes subject to a trust under subdivision A 1:1\n\nFor an asset that is transferred to the trust during the settlor’s life, on the date the asset is transferred;2\n\nFor an asset that becomes subject to the trust because of a decedent’s death, on the date of the decedent’s death, even if there is an intervening period of administration of the decedent’s estate; or3\n\nFor an asset that is transferred to a fiduciary by a third party because of a decedent’s death, on the date of the decedent’s death.C\n\nAn asset becomes subject to a successive interest under subdivision A 2 on the day after the preceding income interest ends, as determined under subsection D, even if there is an intervening period of administration to wind up the preceding income interest.D\n\nAn income interest ends on the day before an income beneficiary dies or another terminating event occurs or on the last day of a period during which there is no beneficiary to which a fiduciary may or must distribute income.","order_by":null,"text":{"0":{"id":226920,"text":"An income beneficiary is entitled to net income in accordance with the terms of the trust from the date an income interest begins. The income interest begins on the date specified in the terms of the trust or, if no date is specified, on the date an asset becomes subject to:","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"A1"},"1":{"id":226921,"text":"The trust for the current income beneficiary; or","type":"section","prefixes":["A","1"],"prefix":"1","entire_prefix":"A1","prefix_anchor":"A1","level":2,"prior_prefix":"A","next_prefix":"A2"},"2":{"id":226922,"text":"A successive interest for a successor beneficiary.","type":"section","prefixes":["A","2"],"prefix":"2","entire_prefix":"A2","prefix_anchor":"A2","level":2,"prior_prefix":"A1","next_prefix":"B"},"3":{"id":226923,"text":"An asset becomes subject to a trust under subdivision A 1:","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A2","next_prefix":"B1"},"4":{"id":226924,"text":"For an asset that is transferred to the trust during the settlor’s life, on the date the asset is transferred;","type":"section","prefixes":["B","1"],"prefix":"1","entire_prefix":"B1","prefix_anchor":"B1","level":2,"prior_prefix":"B","next_prefix":"B2"},"5":{"id":226925,"text":"For an asset that becomes subject to the trust because of a decedent’s death, on the date of the decedent’s death, even if there is an intervening period of administration of the decedent’s estate; or","type":"section","prefixes":["B","2"],"prefix":"2","entire_prefix":"B2","prefix_anchor":"B2","level":2,"prior_prefix":"B1","next_prefix":"B3"},"6":{"id":226926,"text":"For an asset that is transferred to a fiduciary by a third party because of a decedent’s death, on the date of the decedent’s death.","type":"section","prefixes":["B","3"],"prefix":"3","entire_prefix":"B3","prefix_anchor":"B3","level":2,"prior_prefix":"B2","next_prefix":"C"},"7":{"id":226927,"text":"An asset becomes subject to a successive interest under subdivision A 2 on the day after the preceding income interest ends, as determined under subsection D, even if there is an intervening period of administration to wind up the preceding income interest.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B3","next_prefix":"D"},"8":{"id":226928,"text":"An income interest ends on the day before an income beneficiary dies or another terminating event occurs or on the last day of a period during which there is no beneficiary to which a fiduciary may or must distribute income.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C"}},"ancestry":[{"id":15286,"edition_id":1,"name":"Apportionment at Beginning and End of Income Interest","identifier":"9","label":"article","depth":4,"order_by":1,"parent_id":13478,"metadata":{},"date_created":"2026-06-26 03:53:38","date_modified":"2026-06-26 03:53:38","permalink":{"id":274055,"object_type":"structure","relational_id":15286,"identifier":"9","token":"64.2\/III\/10.1\/9","url":"\/64.2\/III\/10.1\/9\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13478,"edition_id":1,"name":"Uniform Fiduciary Income And Principal Act","identifier":"10.1","label":"chapter","depth":3,"order_by":1,"parent_id":12724,"metadata":{},"date_created":"2026-06-26 03:44:58","date_modified":"2026-06-26 03:44:58","permalink":{"id":273863,"object_type":"structure","relational_id":13478,"identifier":"10.1","token":"64.2\/III\/10.1","url":"\/64.2\/III\/10.1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12724,"edition_id":1,"name":"Trusts","identifier":"III","label":"subtitle","depth":2,"order_by":1,"parent_id":12723,"metadata":{},"date_created":"2026-06-26 03:43:50","date_modified":"2026-06-26 03:43:50","permalink":{"id":273811,"object_type":"structure","relational_id":12724,"identifier":"III","token":"64.2\/III","url":"\/64.2\/III\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12723,"edition_id":1,"name":"Wills, Trusts, and Fiduciaries","identifier":"64.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:50","date_modified":"2026-06-26 03:43:50","permalink":{"id":272781,"object_type":"structure","relational_id":12723,"identifier":"64.2","token":"64.2","url":"\/64.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":62227,"structure_id":15286,"section_number":"64.2-1073","catch_line":"When right to income begins and ends","url":"\/64.2-1073\/","token":"64.2\/III\/10.1\/9\/64.2-1073","metadata":false},{"id":58195,"structure_id":15286,"section_number":"64.2-1074","catch_line":"Apportionment of receipts and disbursements when decedent dies or income interest begins","url":"\/64.2-1074\/","token":"64.2\/III\/10.1\/9\/64.2-1074","metadata":false},{"id":60440,"structure_id":15286,"section_number":"64.2-1075","catch_line":"Apportionment when income interest ends","url":"\/64.2-1075\/","token":"64.2\/III\/10.1\/9\/64.2-1075","metadata":false}],"next_section":{"id":58195,"structure_id":15286,"section_number":"64.2-1074","catch_line":"Apportionment of receipts and disbursements when decedent dies or income interest begins","url":"\/64.2-1074\/","token":"64.2\/III\/10.1\/9\/64.2-1074","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/64.2-1073\/","history_text":"

This law was first created in 2022. The record of its establishment is cataloged in chapter 354<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year.<\/p>","references":[{"id":79031,"section_number":"64.2-1036","catch_line":"Fiduciary duties; general principles","order_by":null,"url":"\/64.2-1036\/"},{"id":68355,"section_number":"64.2-1071","catch_line":"Determination and distribution of net income","order_by":null,"url":"\/64.2-1071\/"}],"refers_to":false,"permalink":{"id":274057,"object_type":"law","relational_id":62227,"identifier":"64.2-1073","token":"64.2\/III\/10.1\/9\/64.2-1073","url":"\/64.2-1073\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/64.2-1073\/","token":"64.2\/III\/10.1\/9\/64.2-1073","dublin_core":{"Title":"When right to income begins and ends","Type":"Text","Format":"text\/html","Identifier":"\u00a7 64.2-1073","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> An income beneficiary is entitled to net income<\/span> in accordance with the terms of the trust<\/span> from the date an income interest<\/span> begins. The income interest<\/span> begins on the date specified in the terms of the trust<\/span> or, if no date is specified, on the date an asset becomes subject to: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> The trust<\/span> for the current income beneficiary<\/span>; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> A successive interest<\/span> for a successor beneficiary<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> An asset becomes subject to a trust<\/span> under subdivision A 1: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> For an asset that is transferred to the trust<\/span> during the settlor<\/span>’s life, on the date the asset is transferred; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> For an asset that becomes subject to the trust<\/span> because of a decedent’s death, on the date of the decedent’s death, even if there is an intervening period of administration of the decedent’s estate<\/span>; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> For an asset that is transferred to a fiduciary<\/span> by a third party<\/span> because of a decedent’s death, on the date of the decedent’s death. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> An asset becomes subject to a successive interest<\/span> under subdivision A 2 on the day after the preceding income interest<\/span> ends, as determined under subsection D, even if there is an intervening period of administration to wind up the preceding income interest<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> An income interest<\/span> ends on the day before an income beneficiary dies or another terminating event occurs or on the last day of a period during which there is no beneficiary to which a fiduciary<\/span> may or must distribute income. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nWHEN RIGHT TO INCOME BEGINS AND ENDS (\u00a7 64.2-1073)\n\nA. An income beneficiary is entitled to net income in accordance with the terms\nof the trust from the date an income interest begins. The income interest begins\non the date specified in the terms of the trust or, if no date is specified, on\nthe date an asset becomes subject to:\n\n 1. The trust for the current income beneficiary; or\n\n 2. A successive interest for a successor beneficiary.\n\nB. An asset becomes subject to a trust under subdivision A 1:\n\n 1. For an asset that is transferred to the trust during the settlor’s\n life, on the date the asset is transferred;\n\n 2. For an asset that becomes subject to the trust because of a\n decedent’s death, on the date of the decedent’s death, even if\n there is an intervening period of administration of the decedent’s\n estate; or\n\n 3. For an asset that is transferred to a fiduciary by a third party because of\n a decedent’s death, on the date of the decedent’s death.\n\nC. An asset becomes subject to a successive interest under subdivision A 2 on\nthe day after the preceding income interest ends, as determined under subsection\nD, even if there is an intervening period of administration to wind up the\npreceding income interest.\n\nD. An income interest ends on the day before an income beneficiary dies or\nanother terminating event occurs or on the last day of a period during which\nthere is no beneficiary to which a fiduciary may or must distribute income.\n\nHISTORY: 2022, c. 354.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}