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2017 Iowa Code
Title X - FINANCIAL RESOURCES
Chapter 450 - INHERITANCE TAX
Section 450.45 - Life and term estates — valuation.

Universal Citation: IA Code § 450.45 (2017)
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1 INHERITANCE TAX, §450.45 450.45 Life and term estates — valuation. If an estate or interest for life or term of years in real property is given to a party other than those exempt by this chapter, the property shall be valued as provided in section 450.37 as is provided in ordinary cases, and the party entitled to the estate or interest shall, on or before the last day of the ninth month from the death of the decedent owner, pay the tax, and in default the court shall order the estate or interest, or as much as necessary to pay the tax, penalty, and interest, to be sold. [S13, §1481-a11; C24, 27, 31, 35, 39, §7350; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §450.45; 81 Acts, ch 147, §8, 20] 83 Acts, ch 177, §17, 38; 84 Acts, ch 1240, §5 Referred to in §450.3 Wed Feb 08 03:48:23 2017 Iowa Code 2017, Section 450.45 (9, 0)
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