Terms Used In Indiana Code > Title 32 > Article 23 > Chapter 5 - Uniform Conservation Easement Act

• Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
• conservation easement: means a nonpossessory interest of a holder in real property that imposes limitations or affirmative obligations with the purpose of:

  Indiana Code 32-23-5-2

• Contract: A legal written agreement that becomes binding when signed.
• 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.
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Grantor: The person who establishes a trust and places property into it.
• holder: means any of the following:

  Indiana Code 32-23-5-3

• Property: includes personal and real property. See Indiana Code 1-1-4-5
• real property: include lands, tenements, and hereditaments. See Indiana Code 1-1-4-5
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• third party right of enforcement: means a right that is:

  Indiana Code 32-23-5-4

• United States: includes the District of Columbia and the commonwealths, possessions, states in free association with the United States, and the territories. See Indiana Code 1-1-4-5