Indiana Code 36-12-15-4. Acquisition of property by gift, grant, or devise
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Terms Used In Indiana Code 36-12-15-4
- Devise: To gift property by will.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
Sec. 4. A city or incorporated town in which a free public library is established under this chapter may acquire by purchase or take and hold by gift, grant, or devise any real estate necessary for, or that is donated or devised for, the library. Any revenue derived from the real property shall be used for the library.
[Pre-2006 Education Finance Recodification Citation: 20-26-5-27.]
As added by P.L.2-2006, SEC.198.