Sec. 13. (Application of Statute of Uses)
If the trust property includes real property, and, under the terms of the trust,
(a) The beneficiary has the power to manage the trust property, including the power to direct the trustee to sell the property; and
(b) The trustee may sell the trust property only on direction by the beneficiary or other person or may sell it after a period of time stipulated in the terms of the trust in the absence of a direction:
then 30-4-2-9 shall not apply to defeat the trustee's title.
Formerly: Acts 1971, P.L.416, SEC.3. As amended by Acts 1979, P.L.268, SEC.8.
Structure Indiana Code
Title 30. Trusts and Fiduciaries
Chapter 2. Rules Governing the Creation of Trusts
30-4-2-1.5. Trust Not Created by Will; Requirements
30-4-2-2. Acceptance by Trustee
30-4-2-5. Life Insurance Trusts
30-4-2-6. Nature of Trustee's Estate
30-4-2-7. Nature of Beneficiary's Estate
30-4-2-9. Necessity of Powers or Duties
30-4-2-10. Capacity of Settlor
30-4-2-11. Capacity of Trustee
30-4-2-13. Application of Statute of Uses
30-4-2-14. Assignment of Beneficiary's Interest
30-4-2-15. Divorce or Annulment of Marriage; Effect on Revocable Trust