Indiana Code 30-2-14-10. “Principal” defined
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Terms Used In Indiana Code 30-2-14-10
- 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.
Sec. 10. As used in this chapter, “principal” means property that is held in trust for distribution to a remainder beneficiary when the trust terminates or that will remain perpetually vested in the trustee.
As added by P.L.84-2002, SEC.2.