§ 21-30-2-1 Power to accept gifts
§ 21-30-2-2 Annuity gifts; conditions
§ 21-30-2-3 Determination of gift value
§ 21-30-2-4 Security of payment of annuities
§ 21-30-2-5 Tax exemption
§ 21-30-2-6 Restrictions on acceptance of gifts
§ 21-30-2-7 Trusts; management
lawyer at desk

Ask a legal question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

Terms Used In Indiana Code > Title 21 > Article 30 > Chapter 2 - Gift Annuities; Restrictions on Gifts; Gifts for a Permanent Endowment

  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • Donor: The person who makes a gift.
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Property: includes personal and real property. See Indiana Code 1-1-4-5