Indiana Code 16-20-6-5. Alternative use for gifts if insufficient for building
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Terms Used In Indiana Code 16-20-6-5
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Probate: Proving a will
- Property: includes personal and real property. See Indiana Code 1-1-4-5
Sec. 5. A gift, grant, or conveyance made under this chapter is upon the implied condition that if sufficient money is not available within ten (10) years of the acceptance of the gift, grant, or conveyance, the property or the proceeds from the property, may be used by the county or city, with the approval of the court having probate jurisdiction in the county, for a purpose that will promote the general health of the people of the county or city.
[Pre-1993 Recodification Citation: 16-1-5.1-4.]
As added by P.L.2-1993, SEC.3.