§ 30-4-8-5 — Qualified affidavits

Indiana § 30-4-8-5

• Jurisdiction: Indiana
• Art. 4: TRUST CODE
• Ch. 8: Legacy Trusts

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(a) A qualified affidavit must be signed under
the penalties of perjury, and state the following:
(1) That the transferor has full right, title, and authority to transfer
the property to the legacy trust.
(2) That the transfer of the property to the legacy trust will not
render the transferor insolvent.
(3) That the transferor does not intend to defraud a creditor by
transferring the property to the legacy trust.
(4) That there are no pending or threatened court actions against
the transferor other than the court actions identified by the
transferor and attached to the qualified affidavit.
(5) That the transferor is not involved in any administrative
proceedings other than the administrative proceedings identified
by the transferor and attached to the qualified affidavit.
(6) That the transferor does not contemplate filing for relief under
the federal bankruptcy code.
(7) That the property transferred to the legacy trust is not derived
from unlawful activities.
(b) Except as provided in subsection (c), a qualified affidavit must
be signed by the transferor.
(c) In the case of a disposition by a transferor who is a trustee, the
qualified affidavit must be signed by the transferor who made the
original disposition to the trustee. A qualified affidavit signed under
this subsection must state the facts as of the time of the original
disposition.
(d) If a transferor is a married individual at the time a qualified
affidavit is signed, the transferor shall provide a copy of the qualified
affidavit to the transferor's spouse.

Legislative History

As added by P.L.221-2019, SEC.9.