Indiana Code 32-23-11-5. “Right-of-way fee” defined
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Terms Used In Indiana Code 32-23-11-5
- Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
- right-of-way: means a strip or parcel of real property in which a railroad has acquired an interest for use as a part of the railroad's transportation corridor. See Indiana Code 32-23-11-4
Sec. 5. “Right-of-way fee” refers to the fee simple interest in the real property through which a right-of-way runs.
[Pre-2002 Recodification Citation: 32-5-12-5.]
As added by P.L.2-2002, SEC.8.