Indiana § 30-2-13-39 - Prohibited relationships between sellers and trustees or escrow agents
Full text of Indiana Indiana Code § 30-2-13-39 — Prohibited relationships between sellers and trustees or escrow agents, with citation guidance and answers to common questions.
§ 30-2-13-39. Prohibited relationships between sellers and trustees or escrow agents
Sec. 39. (a) This section does not apply to a trust funded by the method described in section 11(c) of this chapter.
(b) A seller may not be an affiliate, a parent, or a subsidiary organization of the trustee or escrow agent, acting as a fiduciary, of a trust or escrow account established after June 30, 2008, to hold consideration paid for services or merchandise subject to a contract entered into under this chapter by the seller and a purchaser.
As added by P.L.61-2008, SEC.11.
IC 30-2-14Chapter 14. Uniform Principal and Income Act
30-2-14-0.1Application of chapter; application of certain amendments to chapter 30-2-14-1"Accounting period" defined 30-2-14-2"Beneficiary" defined 30-2-14-3"Fiduciary" 30-2-14-4"Income" defined 30-2-14-5"Income beneficiary" defined 30-2-14-6"Income interest" defined 30-2-14-7"Mandatory income interest" defined 30-2-14-8"Net income" defined 30-2-14-9"Person" defined 30-2-14-10"Principal" defined 30-2-14-11"Remainder beneficiary" defined 30-2-14-12"Terms of a trust" 30-2-14-13"Trustee" defined 30-2-14-13.5Personal representative as a fiduciary 30-2-14-14Allocating receipts and disbursements between principal and income 30-2-14-15Power of trustee to adjust between principal and income 30-2-14-16Notice of proposed action 30-2-14-17Discretionary powers of fiduciary; failure to exercise power; remedies 30-2-14-18Distributions to beneficiaries; payment of fees and costs 30-2-14-19Beneficiary's share of net income 30-2-14-20Income interest; asset subject to trust 30-2-14-21Income receipts and disbursements 30-2-14-22Termination of mandatory income interest 30-2-14-23Receipts from an entity 30-2-14-24Distributions of principal and income from trust or estate 30-2-14-25Separate accounting records for business or activity 30-2-14-26Receipts and property allocated to principal 30-2-14-27Rental property receipts 30-2-14-28Obligation to pay money to trustee 30-2-14-29Life insurance policy proceeds; proceeds of other contracts 30-2-14-30Insubstantial allocation between principal and income 30-2-14-31Allocating payments to principal or income 30-2-14-32Receipts from liquidating asset 30-2-14-33Receipts from an interest in minerals or other natural resources 30-2-14-34Net receipts from the sale of timber and related products 30-2-14-35Marital deduction for trust assets 30-2-14-36Transactions in derivatives; granting, acquiring, or exercising an option 30-2-14-37Asset backed securities 30-2-14-38Disbursements from income 30-2-14-39Disbursements from principal 30-2-14-40Principal asset subject to depreciation 30-2-14-41Principal disbursements; income transfers to reimburse principal or create principal disbursement reserve 30-2-14-42Tax payments 30-2-14-43Adjustments to offset shifting of economic interests or tax benefits between income beneficiaries and remainder beneficiaries 30-2-14-44Uniformity of the law
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 30-2-13-39
What does Indiana Code § 30-2-13-39 cover?
Section 30-2-13-39 ("Prohibited relationships between sellers and trustees or escrow agents") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 30-2-13-39?
A common citation format is "Indiana Code § 30-2-13-39" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 30-2-13-39 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.