Ind. Code » Title 30
Indiana Code

Ind. Code § 30-4-2-7 (2026)

Nature of beneficiary's estate

✓ current as of May 2026
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     Sec. 7. (Nature of the Beneficiary's Estate)

     (a) The beneficiary takes an equitable interest in the trust property.

     (b) The extent of the beneficiary's estate shall be determined from the terms of the trust. The Rule in Shelley's Case and the Doctrine of Worthier Title shall not be applied to determine the meaning or application of the terms.

     (c) Except as provided in 30-4-2-14, if, under the terms of the trust, the trustee is required at some time to distribute real property from the trust estate to a beneficiary, that beneficiary's equitable interest is real property. In all other cases the beneficiary's interest is personal property.

Formerly: Acts 1971, P.L.416, SEC.3.

 

Notes of Decisions
Cited in 5 cases, 1989–2019 · leading case: Hays v. Harmon, 809 N.E.2d 460 (Ind. Ct. App. 2004).
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Hays v. Harmon, 809 N.E.2d 460 (Ind. Ct. App. 2004). · cites it 2× “See Ind.Code § 30-4-2-7. In the case of a charitable trust, however, an otherwise indefinite devise is sufficiently ascertained if the trustee is empowered to devote the fund in such manner as he deems just and the purpose is not unlawful or against public policy.”
Drewry v. Metro. Life Ins. (In Re Drewry), 99 B.R. 906 (Bankr. N.D. Ind. 1989). · cites it 2× “Ind. Code Ann. § 30-4-2-7 (a) and (c) (Burns *913 1972).”
In the Matter of Charles B. DREWRY & Julie M. Drewry, Debtors-Appellants, 966 F.2d 236 (7th Cir. 1992). “Ind.Code § 30-4-2-7. And under Indiana law, the beneficiary’s equitable interest is subject to a judgment lien.”
In re Schultz Mfg. Fabricating Co., 956 F.2d 686 (7th Cir. 1992). “The “Trust as Collateral Security” agreement merely gave the bank a collateral security interest in the property and not an absolute assignment of Parr’s beneficial interest. See In re Drewry, 99 B.”
Cheryl Barron Doll v. Steven E. Post, Tr., & Indiana Attorney Gen., 132 N.E.3d 34 (Ind. Ct. App. 2019). · cites it 2× “I.C. § 30-4-2-7. While the settlor need not identify a beneficiary with exact precision, the settlor must give the trustee the ability to determine an intended beneficiary.”
Ind. Code § 30-4-2-7(a): 1 case
In re Schultz Mfg. Fabricating Co., 956 F.2d 686 (7th Cir. 1992). “The “Trust as Collateral Security” agreement merely gave the bank a collateral security interest in the property and not an absolute assignment of Parr’s beneficial interest. See In re Drewry, 99 B.”
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