Sec. 6. Upon the petition of an interested person, a court shall reform a disposition in the manner that most closely preserves the transferor’s plan of distribution and is within the ninety (90) years allowed by section 3(a)(2), 3(b)(2), or 3(c)(2) of this chapter if:

(1) a nonvested property interest or a power of appointment becomes invalid under section 3 of this chapter;

Terms Used In Indiana Code 32-17-8-6

  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Property: includes personal and real property. See Indiana Code 1-1-4-5
(2) a class gift is not but might become invalid under section 3 of this chapter and the time has arrived when the share of any class member is to take effect in possession or enjoyment; or

(3) a nonvested property interest that is not validated by section 3(a)(1) of this chapter can vest but not within ninety (90) years after the interest’s creation.

[Pre-2002 Recodification Citation: 32-1-4.5-6.]

As added by P.L.2-2002, SEC.2.

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