Sec. 12. (Illegality)

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Terms Used In Indiana Code 30-4-2-12

  • 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.
     (a) The terms of the trust may not require the trustee to commit a criminal or tortious act or an act which is contrary to public policy.

     (b) A trust with terms which violate subsection (a) of this section is invalid unless the prohibited term is separable. If the prohibited term is separable, only it is invalid and the remainder of the trust is valid.

Formerly: Acts 1971, P.L.416, SEC.3.

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