Florida Statutes
Fla. Stat. § 738.405 (2025)
Rental property.
✓ 2025 Florida Statutes: through the 2025 Regular Session (some sections already show 2026 laws)
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738.405 Rental property.—To 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.