Indiana Code 30-2-14-11. “Remainder beneficiary” defined
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Indiana Code 30-2-14-11
- income: means money or property that a fiduciary receives as current return from a principal asset. See Indiana Code 30-2-14-4
- person: means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, government; governmental subdivision, agency, or instrumentality; public corporation, or any other legal or commercial entity. See Indiana Code 30-2-14-9
- 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. See Indiana Code 30-2-14-10
Sec. 11. As used in this chapter, “remainder beneficiary” means a person entitled to receive principal when an income interest ends.
As added by P.L.84-2002, SEC.2.