IC 6-1.1-10-33 — Certain exempt property under control of executor or trustee
Chapter 10. Exemptions
Bills amending this section
Section text
Sec. 33. (a) Tangible property which is under the control of an executor or a trustee is exempt from property taxation if it is to be used and applied: (1) within this state for a municipal, educational, literary, scientific, religious, or charitable purpose; or (2) for the benefit of this state or a state institution. (b) Subsection (a) does not apply unless the executor or trustee diligently and in good faith carries out the provisions of the will or trust agreement by using and applying the property for the intended purpose.
Formerly: Acts 1975, P.L.47, SEC.1.
Source: official publisher (2026 edition)