Transfers prohibited until tax paid; limited transfers
Sec. 2. (a) The personal representative of a decedent's estate or the
trustee of property transferred by the decedent may not transfer or
deliver property to a transferee unless the inheritance tax imposed
with respect to the transfer has been paid.
(b) If money is transferred by the decedent to a transferee for a
limited period of time, the personal representative or trustee shall
retain the total inheritance tax imposed on all the interests in the
money.
(c) If property other than money is transferred by the decedent to
a transferee for a limited period of time, the transferees of the
interests in the property shall pay to the personal representative or
trustee the inheritance tax imposed on the interests. The personal
representative or trustee shall apply to the appropriate probate court
for a determination of the amount which each transferee is required
to pay under this subsection.
As added by Acts 1976, P.L.18, SEC.1.
Last modified: May 28, 2006