§ 6-4.1-6-0.5 Applicability
§ 6-4.1-6-1 Mortality standards and actuarial tables; valuation of future interests
§ 6-4.1-6-2 Property interests that may be divested
§ 6-4.1-6-3 Agreements with department for computing taxes
§ 6-4.1-6-4 Determinations of the manner in which property probably will be distributed
§ 6-4.1-6-5 Appraisal of limited, contingent, dependent, or determinable interests
§ 6-4.1-6-6 Contingent or defeasible future interests; appraisal
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Terms Used In Indiana Code > Title 6 > Article 4.1 > Chapter 6 - Special Procedures for Appraising and Taxing Certain Property Interests

  • 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.
  • Appraisal: A determination of property value.
  • Decedent: A deceased person.
  • Dependent: A person dependent for support upon another.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • Probate: Proving a will
  • Property: includes personal and real property. See Indiana Code 1-1-4-5
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • Trustee: A person or institution holding and administering property in trust.