Indiana Code 14-26-1-7. Cost of easement or interest in land
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Terms Used In Indiana Code 14-26-1-7
- Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
- Property: includes personal and real property. See Indiana Code 1-1-4-5
Sec. 7. The cost of an easement or interest in the fee, either purchased or condemned, for present or for future needs, is considered to be the cost of used and useful property commencing with the date the payment for the land or an interest in the land is made. The Indiana utility regulatory commission shall take due note of the fact that a fee simple interest or easement, however acquired, is used and useful property in a rate making proceeding in which a utility owning a fee simple interest or easement is involved.
[Pre-1995 Recodification Citation: 13-2-9-5.]
As added by P.L.1-1995, SEC.19.