Indiana Code > Title 21 > Article 30 > Chapter 5 – Gifts, Bequests, and Devises; Vincennes University


§ 21-30-5-1	Applicability of chapter
§ 21-30-5-2	Board; acceptance of gifts, devises, and bequests
§ 21-30-5-3	Board; use of transferred property
§ 21-30-5-4	Annuity gifts; conditions
§ 21-30-5-5	Security of payment of annuities
§ 21-30-5-6	Sale or conveyance of property received by gift or bequest
§ 21-30-5-7	Proceeds of sale or conveyance; use
§ 21-30-5-8	Procedure for the sale of real property received as a gift

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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.
Bequest: Property gifted by will.
Deed: The legal instrument used to transfer title in real property from one person to another.
Devise: To gift property by will.
Donee: The recipient of a gift.
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.
Judgment: means all final orders, decrees, and determinations in an action and all orders upon which executions may issue. See Indiana Code 1-1-4-5
Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
Property: includes personal and real property. See Indiana Code 1-1-4-5
Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
real property: include lands, tenements, and hereditaments. See Indiana Code 1-1-4-5
Testator: A male person who leaves a will at death.