Indiana Code 30-2-13-18. Compensation and expenses of trustee; withdrawal of tax liability
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Terms Used In Indiana Code 30-2-13-18
- agent: means a person authorized by a seller to offer, sell, or solicit the sale of a contract on behalf of the seller and includes an employee or independent contractor of the seller. See Indiana Code 30-2-13-2
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
- Trustee: A person or institution holding and administering property in trust.
Sec. 18. A trustee or an escrow agent may be reimbursed for necessary expenses and be paid reasonable compensation for those services from the trust or escrow. A trustee or an escrow agent shall also be permitted to withdraw from trust or escrow any federal or state tax liability assessed against the purchasers’ interest in the trust or escrow.
As added by P.L.200-1991, SEC.1. Amended by P.L.114-1999, SEC.14.