CHAPTER 4. RELINQUISHMENT OF CERTAIN CHARITABLE TRUSTS - Indiana Statutes

IC 30-3-4
     Chapter 4. Relinquishment of Certain Charitable Trusts

IC 30-3-4-1
Application of chapter; home for indigent women, worthy poor, or orphaned children
     Sec. 1. Notwithstanding IC 30-4-2-2 and IC 30-4-3-33, this chapter applies whenever a county that has been given, devised, or bequeathed money or property in trust for the purpose of establishing and maintaining a home for indigent women, worthy poor, or orphan children, and the board of commissioners of the county has been named as trustee by the donor of the property or money.
As added by Acts 1980, P.L.8, SEC.143. Amended by P.L.238-2005, SEC.18.

IC 30-3-4-2
Determination by board of commissioners to relinquish trust
     Sec. 2. If the board of commissioners determines:
        (1) that the amount of money or property given, devised, or bequeathed is or will be inadequate to carry out the trust without an additional appropriation from the county; and
        (2) that the county will not be substantially benefited by the administration of the trust;
then the board shall relinquish the trust. The title to any money and property so given, devised, or bequeathed then vests in the legal heirs of the donor or testator according to the provisions of IC 29 concerning intestate succession.
As added by Acts 1980, P.L.8, SEC.143.

IC 30-3-4-3
Certifying transcript of finding; recording
     Sec. 3. The auditor of a county in which the board of commissioners makes a finding under this chapter affecting the title to real estate shall immediately certify a transcript of the finding to the county recorder of the county in which the real estate so affected is located. The county recorder shall then have the transcript recorded in the deed record of the county.
As added by Acts 1980, P.L.8, SEC.143.