77-2009.

Inheritance tax; delay in coming into possession of property; bond for tax; exception.

(1) When property is devised, bequeathed, or otherwise transferred or limited, in trust or otherwise, in such a manner as to be subject to the tax prescribed in sections 77-2001 to 77-2008.02, and the rights, interest, or estates of the transferees, legatees, devisees, or beneficiaries are dependent upon contingencies or conditions whereby they may be wholly or in part created, defeated, extended, or abridged or when the rights of the transferees, legatees, devisees, or beneficiaries to possession or enjoyment of said property are subject to an intervening life estate or temporary estate, then and in that event any person or persons interested in such property, by giving a bond as provided for in subsection (2) of this section, with surety or sureties approved by the county judge, may elect not to pay the tax resulting from the inheritance or transfer of the uncertain, contingent, or postponed interest until the contingency has occurred, the uncertainty has been resolved, or the person against whom the tax is assessed shall have come into actual possession or enjoyment of the property.

(2) The bond referred to in subsection (1) of this section shall be filed in the county court where the estate proceedings are pending and shall bind the surety or sureties on said bond to the county where the estate proceedings are pending and to such other counties as the county judge may direct in an amount to be determined by the county judge, but not to exceed in any event two times the amount of the estimated tax. Such bond shall be conditioned upon the payment of the tax with interest by the person or persons primarily liable therefor when the contingency has occurred, the uncertainty has been resolved, or the person or persons against whom the tax has been assessed shall have come into the possession or enjoyment of said property.

(3) It is expressly provided that no bond, referred to in subsections (1) and (2) of this section, shall be required on account of the tax resulting from the inheritance or transfer of real property, which is subject to a lien for the tax involved, unless it is the desire of the owner or other person interested in said property to release any such lien against said real estate and in that event, by furnishing a bond as described in subsection (2) of this section, the lien against the real estate shall cease and said property may be transferred free from any lien arising from the inheritance tax. Interest on any such uncertain, contingent, or postponed interest in property shall be charged only at the rate used in valuing such uncertain, contingent, or postponed interest in property pursuant to regulations issued under section 77-2008.