Indiana § 30-4-2-7 Nature of beneficiary's estate

Indiana Statutes

§ 30-4-2-7 — Nature of beneficiary's estate

Indiana·Art. 4 TRUST CODE·Ch. 2 Rules Governing the Creation of Trusts

(Nature of the Beneficiary's Estate)

(a)The beneficiary takes an equitable interest in the trust property.

(b)The extent of the beneficiary's estate shall be determined from the terms of the trust. The Rule in Shelley's Case and the Doctrine of Worthier Title shall not be applied to determine the meaning or application of the terms.

(c)Except as provided in 30-4-2-14, if, under the terms of the trust, the trustee is required at some time to distribute real property from the trust estate to a beneficiary, that beneficiary's equitable interest is real property. In all other cases the beneficiary's interest is personal property. Formerly: Acts 1971, P.L.416, SEC.3.

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(Nature of the Beneficiary's Estate)
(a) The beneficiary takes an equitable interest in the trust property.
(b) The extent of the beneficiary's estate shall be determined from
the terms of the trust. The Rule in Shelley's Case and the Doctrine of
Worthier Title shall not be applied to determine the meaning or
application of the terms.
(c) Except as provided in 30-4-2-14, if, under the terms of the trust,
the trustee is required at some time to distribute real property from the
trust estate to a beneficiary, that beneficiary's equitable interest is real
property. In all other cases the beneficiary's interest is personal
property.
Formerly: Acts 1971, P.L.416, SEC.3.

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