Indiana Code 32-17-5-1. Application of chapter
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Sec. 1. This chapter applies to a person that is entitled to:
(2) an estate tail;
(1) an estate in real estate for life or years;
Terms Used In Indiana Code 32-17-5-1
- Devise: To gift property by will.
- Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
- Personal property: All property that is not real property.
- Personal property: includes goods, chattels, evidences of debt, and things in action. See Indiana Code 1-1-4-5
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
(3) a fee simple;
(4) a conditional, base, or qualified fee;
(5) a particular, limited, or conditional estate in real estate; or
(6) an interest in personal property;
and any other person is entitled to a vested or contingent remainder, an executory devise, or any other vested or contingent interest in the same real estate or personal property.
[Pre-2002 Recodification Citation: 32-4-8-1 part.]
As added by P.L.2-2002, SEC.2.