(301) When right to income begins and ends
N.D. Cent. Code § 59-04.2-06
in effect59-04.2-06. (301) When right to income begins and ends
1. An income beneficiary is entitled to net income from the date on which the income
interest begins. An 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 a trust or
successive income interest.
2. An asset becomes subject to a trust:
a. On the date it is transferred to the trust in the case of an asset that is transferred
to a trust during the transferor's life;
b. On the date of a testator's death in the case of an asset that becomes subject to
a trust by reason of a will, even if there is an intervening period of administration
of the testator's estate; or
c. On the date of an individual's death in the case of an asset that is transferred to a
fiduciary by a third party because of the individual's death.
3. An asset becomes subject to a successive income interest on the day after the
preceding income interest ends, as determined under subsection 4, even if there is an
intervening period of administration to wind up the preceding income interest.
4. 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 whom a trustee may distribute income.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://ndlegis.gov/cencode/t59c04-2.pdf#nameddest=59-04p2-06Fetched: 10/16/2026