Terms Used In Indiana Code 36-8-11-2

• Board: refers to the board of fire trustees of a fire protection district. See Indiana Code 36-8-11-2
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Freeholder: means an individual who holds land in fee, for life, or for some indeterminate period of time, whether or not in joint title. See Indiana Code 36-8-11-2
• Joint tenancy: A form of property ownership in which two or more parties hold an undivided interest in the same property that was conveyed under the same instrument at the same time. A joint tenant can sell his (her) interest but not dispose of it by will. Upon the death of a joint tenant, his (her) undivided interest is distributed among the surviving joint tenants.
• Joint title: means joint tenancy, tenancy in common, or tenancy by the entireties. See Indiana Code 36-8-11-2
• Property: includes personal and real property. See Indiana Code 1-1-4-5
• Tenancy in common: A type of property ownership in which two or more individuals have an undivided interest in property. At the death of one tenant in common, his (her) fractional percentage of ownership in the property passes to the decedent