§ 6-1-1-10-32

Tangible property is exempt from property taxation if it:(1) is under the control of an executor;(2) is to pass, under the terms of a will, to a municipal corporation or to a literary, scientific, benevolent, religious, or charitable institution; and(3) would be exempt from property taxation if it had already been distributed to the devisee or legatee.[Pre-1975 Property Tax Recodification Citation: 6-1-1-2(10).]Formerly: Acts 1975, P.L.47, SEC.1.