Sec. 18. (Other Remedies of the Trustee)
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Terms Used In Indiana Code 30-4-3-18
- Court: means a court having jurisdiction over trust matters. See Indiana Code 30-4-1-2
- Lien: A claim against real or personal property in satisfaction of a debt.
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
- Trust estate: means the trust property and the income derived from its use. See Indiana Code 30-4-1-2
- Trustee: A person or institution holding and administering property in trust.
- Trustee: has the meaning set forth in IC 30-2-14-13. See Indiana Code 30-4-1-2
(b) The trustee is entitled to a review and settlement by the court of the accounts of his administration.
(c) The trustee is entitled to a lien against the trust estate:
(1) for any advances made by him under 30-4-3-3(a) (10); and
(2) for the value of his services for which he is entitled to, but has not received, compensation as provided either under the terms of the trust or under 30-4-5-16.
Formerly: Acts 1971, P.L.416, SEC.4.
