Indiana § 6-1.1-10-33 Certain exempt property under control of executor or trustee

Indiana Statutes

§ 6-1.1-10-33 — Certain exempt property under control of executor or trustee

Indiana·Art. 1.1 PROPERTY TAXES·Ch. 10 Exemptions

(a)Tangible property which is under the control of an executor or a trustee is exempt from property taxation if it is to be used and applied:

(1)within this state for a municipal, educational, literary, scientific, religious, or charitable purpose; or

(2)for the benefit of this state or a state institution.

(b)Subsection (a) does not apply unless the executor or trustee diligently and in good faith carries out the provisions of the will or trust agreement by using and applying the property for the intended purpose. [Pre-1975 Property Tax Recodification Citation: 6-1-1-2(13).] Formerly: Acts 1975, P.L.47, SEC.1.

Free access — add to your briefcase to read the full text and ask questions with AI

(a) Tangible property which is under the
control of an executor or a trustee is exempt from property taxation if
it is to be used and applied:
(1) within this state for a municipal, educational, literary, scientific,
religious, or charitable purpose; or
(2) for the benefit of this state or a state institution.
(b) Subsection (a) does not apply unless the executor or trustee
diligently and in good faith carries out the provisions of the will or trust
agreement by using and applying the property for the intended purpose.
[Pre-1975 Property Tax Recodification Citation:
6-1-1-2(13).]
Formerly: Acts 1975, P.L.47, SEC.1.

Indiana § 6-1.1-10-33 (Certain exempt property under control of executor or trustee) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.