Rental property.
F.S. 738.405
in effectTo the extent that a fiduciary does not account for the management of rental property as a business under s. 738.403, the fiduciary 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:
(1)
Must be added to principal and held subject to the terms of the lease, except as otherwise provided by law other than this chapter; and
(2)
Is not allocated to income or available for distribution to a beneficiary until the fiduciary’s contractual obligations have been satisfied with respect to that amount.
Source: FL Statutes (Official Site)URL: https://www.flsenate.gov/Laws/Statutes/2025/Chapter738/AllFetched: 7/8/2026