Indiana Code > Title 32 > Article 17 > Chapter 13 – Liability of Nonprobate Transferees for Creditor Claims and Statutory Allowances
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Terms Used In Indiana Code > Title 32 > Article 17 > Chapter 13 - Liability of Nonprobate Transferees for Creditor Claims and Statutory Allowances
- 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.
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Attorney: includes a counselor or other person authorized to appear and represent a party in an action or special proceeding. See Indiana Code 1-1-4-5
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- claimant: means the surviving spouse or a surviving child, to the extent that statutory allowances are affected, or a person who has filed a timely claim in a deceased transferor's probate estate under IC 29-1-14, and is entitled to enforce the claim against a transferee of a nonprobate transfer. See Indiana Code 32-17-13-2
- Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
- Decedent: A deceased person.
- Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Lien: A claim against real or personal property in satisfaction of a debt.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- nonprobate transfer: means a valid transfer, effective at death, by a transferor:
Indiana Code 32-17-13-1
- nonprobate transferee: means a person who acquires an interest in property by a nonprobate transfer. See Indiana Code 32-17-13-2
- Plaintiff: The person who files the complaint in a civil lawsuit.
- Probate: Proving a will
- Property: includes personal and real property. See Indiana Code 1-1-4-5
- Statute: A law passed by a legislature.
- Summons: Another word for subpoena used by the criminal justice system.
- Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
- Trustee: A person or institution holding and administering property in trust.