Indiana Code 21-36-3-4. Sale or conveyance of property received by gift or bequest
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Sec. 4. The board of trustees of a state educational institution may determine that any real estate (including any real estate acquired by gift, bequest, or devise) for which the title of the real estate is in the name of the:
(2) state of Indiana for the use and benefit of the state educational institution;
(1) state educational institution; or
Terms Used In Indiana Code 21-36-3-4
- Bequest: Property gifted by will.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
is not needed for any of the purposes of the state educational institution and that it would be advantageous for the state educational institution to give or sell the real estate.
[Pre-2007 Higher Education Recodification Citation: 20-12-11-2(a) part.]
As added by P.L.2-2007, SEC.277. Amended by P.L.178-2018, SEC.13.