State Codes and Statutes
Statutes > Indiana > Title32 > Ar38 > Ch3IC 32-38-3
Chapter 3. Transfers to Certain Trusts
IC 32-38-3-1
Trustee considered insured owner; conditions
Sec. 1. The trustee of a trust is considered to be the insured owner
under a policy or commitment that insures or proposes to insure an
interest in real property that is transferred to the trust if:
(1) the transferee of the interest in real property is the trustee of
the trust, the trust was established by the named insured owner,
and the transferor is the named insured owner;
(2) the named insured owner reserves the right to amend or
revoke the trust during the named insured owner's lifetime;
(3) the named insured owner is a natural person; and
(4) the transfer of the interest in real property is made by the
named insured owner personally or by:
(A) the named insured owner's attorney in fact;
(B) the named insured owner's guardian or other similar
person in a guardianship or protective proceeding in which
the named insured owner is an incapacitated or a protected
person; or
(C) the personal representative of the deceased named
insured owner's estate under the terms and conditions of the
named insured owner's last will and testament;
even if the named insured owner transfers the interest in real
property to the trustee described in this section after the effective
date of the policy or commitment.
As added by P.L.95-2007, SEC.19.
