Indiana Code 32-17-5-3. Investment of proceeds
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Sec. 3. If the court decrees a sale, exchange, or lease under section 2 of this chapter, the court shall direct the investment of the proceeds of the:
(2) terms of the instrument of exchange or lease; or
(1) sale;
Terms Used In Indiana Code 32-17-5-3
- Devise: To gift property by will.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Property: includes personal and real property. See Indiana Code 1-1-4-5
(3) limitations of the reversion and rents and income;
so as to inure as by the original grant, devise, or condition to the use of the same parties who would be entitled to the property sold or leased or the income of the personal property.
[Pre-2002 Recodification Citation: 32-4-8-1 part.]
As added by P.L.2-2002, SEC.2.