Indiana Code 29-2-12-5. Liens
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Terms Used In Indiana Code 29-2-12-5
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Decedent: A deceased person.
- Lien: A claim against real or personal property in satisfaction of a debt.
- Property: includes personal and real property. See Indiana Code 1-1-4-5
Sec. 5. That portion of said federal estate tax apportioned to each person, heir, or beneficiary receiving property as aforesaid, shall constitute a lien upon the property received by said person, heir or beneficiary until the amount thereof has been paid or reimbursed to the personal representative of decedent‘s estate or the person other than the personal representative who has paid such tax.
Formerly: Acts 1969, c.175, s.5.