IC 6-1.1-10-32: Certain exempt property under control of executor

Sec. 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.