Indiana Code 32-17.5-7-4. Interest in an intervivos trust
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Sec. 4. A disclaimer of an interest in an inter vivos trust must be:
(2) filed with a court having jurisdiction to enforce the trust if no trustee is then serving; or
(1) delivered to the trustee then serving;
Terms Used In Indiana Code 32-17.5-7-4
- Inter vivos: Transfer of property from one living person to another living person.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Revocable trust: A trust agreement that can be canceled, rescinded, revoked, or repealed by the grantor (person who establishes the trust).
- Trustee: A person or institution holding and administering property in trust.
(3) delivered to the settlor of a revocable trust or the transferor of the interest if the disclaimer is made before the time the instrument creating the trust becomes irrevocable.
As added by P.L.5-2003, SEC.1.