reglab/statecodes huggingface dataset:
2023 Indiana Code › Title 32. Property › Article 17. Interests in Property › Chapter 7. Repealed

[Pre-2002 Recodification Citations:
32-17-7-1formerly 32-3-2-1 part32-17-7-2formerly 32-3-2-1 part32-17-7-3formerly 32-3-2-1 part32-17-7-4formerly 32-3-2-5(a)32-17-7-5formerly 32-3-2-1 part32-17-7-6formerly 32-3-2-1 part32-17-7-7formerly 32-3-2-232-17-7-8formerly 32-3-2-332-17-7-9formerly 32-3-2-432-17-7-10formerly 32-3-2-5(b); 32-3-2-5(c)32-17-7-11formerly 32-3-2-632-17-7-12formerly 32-3-2-732-17-7-13formerly 32-3-2-832-17-7-14formerly 32-3-2-932-17-7-15formerly 32-3-2-1032-17-7-16formerly 32-3-2-1132-17-7-17formerly 32-3-2-1232-17-7-18formerly 32-3-2-1332-17-7-19formerly 32-3-2-1432-17-7-20formerly 32-3-2-15.]
Repealed by P.L.5-2003, SEC.2.
2023 Indiana Code › Title 32. Property › Article 17. Interests in Property › Chapter 8. Uniform Statutory Rule Against Perpetuities › 32-17-8-1. Application of Chapter; Reformation of Disposition Created Before May 8, 1991

Sec. 1. (a) Except as provided in subsection (b), this chapter applies to a nonvested property interest or a power of appointment that is created on or after May 8, 1991. For purposes of this section, a nonvested property interest or a power of appointment created by the exercise of a power of appointment is created when the power is irrevocably exercised or when a revocable exercise becomes irrevocable.
(b) If a nonvested property interest or a power of appointment was created before May 8, 1991, and:
(1) is determined in a judicial proceeding commenced on or after May 8, 1991, to violate this state's rule against perpetuities as that rule existed before May 8, 1991; or
(2) may violate this state's rule against perpetuities as that rule existed before May 8, 1991;
a court upon the petition of an interested person shall reform the disposition by inserting a savings clause that most closely preserves the transferor's plan of distribution and is within the limits of the rule against perpetuities applicable when the nonvested property interest or power of appointment was created.
[Pre-2002 Recodification Citation: 32-1-4.5-1.]
As added by P.L.2-2002, SEC.2.
2023 Indiana Code › Title 32. Property › Article 17. Interests in Property › Chapter 8. Uniform Statutory Rule Against Perpetuities › 32-17-8-2. Exclusions

Sec. 2. This chapter does not apply to the following:
(1) A nonvested property interest or a power of appointment arising out of a nondonative transfer, except a nonvested property interest or a power of appointment arising out of any of the following:
(A) A premarital or postmarital agreement.
(B) A separation or divorce settlement.
(C) A spouse's election.
(D) A similar arrangement arising out of a prospective, an existing, or a previous marital relationship between the parties.
(E) A contract to make or not to revoke a will or trust.
(F) A contract to exercise or not to exercise a power of appointment.
(G) A transfer in satisfaction of a duty of support.
(H) A reciprocal transfer.
(2) A fiduciary's power relating to the administration or management of assets, including the power of a fiduciary to sell, lease, or mortgage property, and the power of a fiduciary to determine principal and income.
(3) A power to appoint a fiduciary.
(4) A discretionary power of a trustee to distribute principal before termination of a trust to a beneficiary having an indefeasibly vested interest in the income and principal.
(5) A nonvested property interest held by a charity, government, or governmental agency or subdivision, if the nonvested property interest is preceded by an interest held by another charity, government, or governmental agency or subdivision.
(6) A nonvested property interest in or a power of appointment with respect to a trust or other property arrangement forming part of a pension, a profit sharing, a stock bonus, a health, a disability, a death benefit, an income deferral, or other current or deferred benefit plan for one (1) or more employees, independent contractors, or their beneficiaries or spouses, to which contributions are made for the purpose of distributing to or for the benefit of the participants or their beneficiaries or spouses the property, income, or principal in the trust or other property arrangement, except a nonvested property interest or a power of appointment that is created by an election of a participant or a beneficiary or spouse.
(7) A property interest, power of appointment, or arrangement that was not subject to the common law rule against perpetuities or is excluded by another Indiana statute.
(8) A:
(A) provision for the accumulation of an amount of the income of a trust estate reasonably necessary for the upkeep, repair, or proper management of the subject of the estate;
(B) direction in a trust that provides for the allocation wholly or in part to the principal of the trust of stock dividends or stock rights derived from shares held in a trust;
(C) provision for a sinking or reserve fund; or
(D) statutory provision directing an accumulation.
[Pre-2002 Recodification Citation: 32-1-4.5-2.]
As added by P.L.2-2002, SEC.2.
2023 Indiana Code › Title 32. Property › Article 17. Interests in Property › Chapter 8. Uniform Statutory Rule Against Perpetuities › 32-17-8-3. Nonvested Property Interests; Powers of Appointment; Validity

Sec. 3. (a) A nonvested property interest is valid if:
(1) when the interest is created, the interest is certain to vest or terminate not later than twenty-one (21) years after the death of an individual then alive; or
(2) the interest either vests or terminates within ninety (90) years after the interest's creation.
(b) A general power of appointment not presently exercisable because of a condition precedent is valid if:
(1) when the power is created, the condition precedent is certain to be satisfied or become impossible to satisfy not later than twenty-one (21) years after the death of an individual then alive; or
(2) the condition precedent either is satisfied or becomes impossible to satisfy within ninety (90) years after the condition precedent's creation.
(c) A nongeneral power of appointment or a general testamentary power of appointment is valid if:
(1) when the power is created, the power is certain to be irrevocably exercised or otherwise to terminate not later than twenty-one (21) years after the death of an individual then alive; or
(2) the power is irrevocably exercised or otherwise terminates within ninety (90) years after the power's creation.
(d) In determining whether a nonvested property interest or a power of appointment is valid under subsection (a)(1), (b)(1), or (c)(1), the possibility that a child will be born to an individual after the individual's death is disregarded.
[Pre-2002 Recodification Citation: 32-1-4.5-3.]
As added by P.L.2-2002, SEC.2.
2023 Indiana Code › Title 32. Property › Article 17. Interests in Property › Chapter 8. Uniform Statutory Rule Against Perpetuities › 32-17-8-4. Nonvested Property Interests or Powers of Appointment; Time of Creation

Sec. 4. (a) Except as provided in subsections (b) and (c) and in section 1(a) of this chapter, the time of creation of a nonvested property interest or a power of appointment is determined under general principles of property law.
(b) For purposes of this chapter, if there is a person who alone can exercise a power created by a governing instrument to become the unqualified beneficial owner of:
(1) a nonvested property interest; or
(2) a property interest subject to a power of appointment described in section 3(b) or 3(c) of this chapter;
the nonvested property interest or power of appointment is created when the power to become the unqualified beneficial owner terminates.
(c) For purposes of this chapter, a nonvested property interest or a power of appointment arising from a transfer of property to a previously funded trust or other existing property arrangement is created when the nonvested property interest or power of appointment in the original contribution was created.
[Pre-2002 Recodification Citation: 32-1-4.5-4.]
As added by P.L.2-2002, SEC.2.
2023 Indiana Code › Title 32. Property › Article 17. Interests in Property › Chapter 8. Uniform Statutory Rule Against Perpetuities › 32-17-8-5. Clauses Taking Effect Upon the Later of Certain Occurrences; Portion Invalid; Construction

Sec. 5. (a) This section applies to a clause in a governing instrument that:
(1) purports to:
(A) postpone the vesting or termination of any interest or trust until;
(B) disallow the vesting or termination of any interest or trust beyond;
(C) require all interests or trusts to vest or terminate not later than; or
(D) operate in any similar fashion upon;
the occurrence of an event described in subdivision (2); and
(2) takes effect upon the later of the following occurrences:
(A) The expiration of a period that exceeds twenty-one (21) years or that might exceed twenty-one (21) years after the death of the survivor of lives in being at the creation of the trust or other property arrangement.
(B) The death of, or the expiration of a period not exceeding twenty-one (21) years after the death of, the survivor of specified lives in being at the creation of the trust or other property arrangement.
(b) If a clause described in subsection (a) appears in an instrument creating a trust or other property arrangement, then, in measuring a period from the creation of a trust or other property arrangement, the portion of the clause that pertains to the period that exceeds twenty-one (21) years or that might exceed twenty-one (21) years after the death of the survivor of lives in being at the creation of the trust or other property arrangement is not valid. The court shall construe the clause as becoming effective upon:
(1) the death of; or
(2) the expiration of the period not exceeding twenty-one (21) years after the death of;
the survivor of the specified lives in being at the creation of the trust or other property arrangement.
[Pre-2002 Recodification Citation: 32-1-4.5-5.]
As added by P.L.2-2002, SEC.2.
2023 Indiana Code › Title 32. Property › Article 17. Interests in Property › Chapter 8. Uniform Statutory Rule Against Perpetuities › 32-17-8-6. Judicial Reformation of Disposition

Sec. 6. Upon the petition of an interested person, a court shall reform a disposition in the manner that most closely preserves the transferor's plan of distribution and is within the ninety (90) years allowed by section 3(a)(2), 3(b)(2), or 3(c)(2) of this chapter if:
(1) a nonvested property interest or a power of appointment becomes invalid under section 3 of this chapter;
(2) a class gift is not but might become invalid under section 3 of this chapter and the time has arrived when the share of any class member is to take effect in possession or enjoyment; or
(3) a nonvested property interest that is not validated by section 3(a)(1) of this chapter can vest but not within ninety (90) years after the interest's creation.
[Pre-2002 Recodification Citation: 32-1-4.5-6.]
As added by P.L.2-2002, SEC.2.
2023 Indiana Code › Title 32. Property › Article 17. Interests in Property › Chapter 9. Repealed

[Pre-2002 Recodification Citations:
32-17-9-1formerly 32-4-1.6-1532-17-9-2formerly 32-4-1.6-132-17-9-3formerly 32-4-1.6-232-17-9-4formerly 32-4-1.6-332-17-9-5formerly 32-4-1.6-432-17-9-6formerly 32-4-1.6-532-17-9-7formerly 32-4-1.6-632-17-9-8formerly 32-4-1.6-732-17-9-9formerly 32-4-1.6-832-17-9-10formerly 32-4-1.6-932-17-9-11formerly 32-4-1.6-1032-17-9-12formerly 32-4-1.6-1132-17-9-13formerly 32-4-1.6-1232-17-9-14formerly 32-4-1.6-1332-17-9-15formerly 32-4-1.6-14.]
Repealed by P.L.143-2009, SEC.52.
2023 Indiana Code › Title 32. Property › Article 17. Interests in Property › Chapter 10. Limitations on Possibility of Reverter or Rights of Entry for a Breach of a Condition Subsequent › 32-17-10-1. Application of Chapter

Sec. 1. This chapter does not apply to the following:
(1) A conveyance made for the purpose of extinguishing a possibility of reverter or a right of entry.
(2) The rights of:
(A) a mortgagee based on the terms of the mortgage;
(B) a trustee or beneficiary under a trust deed in the nature of a mortgage based on the terms of the trust deed;
(C) a grantor under a vendor's lien reserved in a deed;
(D) a lessor under a lease for a term of years; or
(E) a person with a separate property interest in coal, oil, gas, or other minerals.
[Pre-2002 Recodification Citation: 32-1-21-1.]
As added by P.L.2-2002, SEC.2.
2023 Indiana Code › Title 32. Property › Article 17. Interests in Property › Chapter 10. Limitations on Possibility of Reverter or Rights of Entry for a Breach of a Condition Subsequent › 32-17-10-2. Duration of Possibility of Reverter or Right of Entry for Breach of Condition Subsequent

Sec. 2. A possibility of reverter or right of entry for breach of a condition subsequent concerning real property is invalid after thirty (30) years from the date the possibility of reverter or right of entry is created, notwithstanding a period of creation longer than thirty (30) years:
(1) if the breach of the condition has not occurred; and
(2) despite whether the possibility of reverter or right of entry was created before, on, or after July 1, 1993.
[Pre-2002 Recodification Citation: 32-1-21-2.]
As added by P.L.2-2002, SEC.2.
2023 Indiana Code › Title 32. Property › Article 17. Interests in Property › Chapter 11. Multiple Party Accounts › 32-17-11-1. "Account" Defined

Sec. 1. (a) As used in this chapter, "account" means a contract of deposit of funds between a depositor and a financial institution.
(b) The term includes a checking account, savings account, certificate of deposit, share account, and other like arrangement.
[Pre-2002 Recodification Citation: 32-4-1.5-1(1).]
As added by P.L.2-2002, SEC.2.
2023 Indiana Code › Title 32. Property › Article 17. Interests in Property › Chapter 11. Multiple Party Accounts › 32-17-11-2. "Beneficiary" Defined

Sec. 2. As used in this chapter, "beneficiary" means a person named in a trust account as one for whom a party to the account is named as trustee.
[Pre-2002 Recodification Citation: 32-4-1.5-1(2).]
As added by P.L.2-2002, SEC.2.
2023 Indiana Code › Title 32. Property › Article 17. Interests in Property › Chapter 11. Multiple Party Accounts › 32-17-11-3. "Financial Institution" Defined

Sec. 3. (a) As used in this chapter, "financial institution" means any organization authorized to do business in Indiana under IC 28 or federal law relating to financial institutions.
(b) The term includes the following:
(1) Banks and trust companies.
(2) Building and loan associations.
(3) Industrial loan and investment companies.
(4) Savings banks.
(5) Credit unions.
[Pre-2002 Recodification Citation: 32-4-1.5-1(3).]
As added by P.L.2-2002, SEC.2.
2023 Indiana Code › Title 32. Property › Article 17. Interests in Property › Chapter 11. Multiple Party Accounts › 32-17-11-4. "Joint Account" Defined

Sec. 4. As used in this chapter, "joint account" means an account payable on request to one (1) or more of two (2) or more parties whether or not mention is made of any right of survivorship.
[Pre-2002 Recodification Citation: 32-4-1.5-1(4).]
As added by P.L.2-2002, SEC.2.
2023 Indiana Code › Title 32. Property › Article 17. Interests in Property › Chapter 11. Multiple Party Accounts › 32-17-11-5. "Multiple Party Account" Defined

Sec. 5. (a) As used in this chapter, "multiple party account" means any of the following types of accounts:
(1) A joint account.
(2) A trust account.
(b) The term does not include accounts established for deposit of funds of a partnership, joint venture, or other association for business purposes, or accounts controlled by one (1) or more persons as the duly authorized agent or trustee for a corporation, unincorporated association, charitable or civic organization, or a regular fiduciary or trust account where the relationship is established other than by deposit agreement.
[Pre-2002 Recodification Citation: 32-4-1.5-1(5).]
As added by P.L.2-2002, SEC.2. Amended by P.L.143-2009, SEC.33.
2023 Indiana Code › Title 32. Property › Article 17. Interests in Property › Chapter 11. Multiple Party Accounts › 32-17-11-6. "Net Contribution" Defined

Sec. 6. As used in this chapter, "net contribution" of a party to a joint account as of any given time means the sum of:
(1) all deposits made by or for the party; minus
(2) all withdrawals made by or for the party that have not been paid to or applied to the use of any other party; plus
(3) a pro rata share of any interest or dividends included in the current balance.
The term includes any proceeds of deposit life insurance added to the account by reason of the death of the party whose net contribution is in question.
[Pre-2002 Recodification Citation: 32-4-1.5-1(6).]
As added by P.L.2-2002, SEC.2.
2023 Indiana Code › Title 32. Property › Article 17. Interests in Property › Chapter 11. Multiple Party Accounts › 32-17-11-7. "Party" Defined

Sec. 7. (a) As used in this chapter, "party" means a person who, by the terms of the account, has a present right, subject to request, to payment from a multiple party account. A beneficiary of a trust account is a party only after the account becomes payable to the payee or beneficiary by reason of the payee's or beneficiary's surviving the original payee or trustee.
(b) Unless the context otherwise requires, the term includes a guardian, conservator, personal representative, or assignee, including an attaching creditor, of a party. The term also includes a person identified as a trustee of an account for another whether or not a beneficiary is named.
(c) The term does not include:
(1) any named beneficiary unless the beneficiary has a present right of withdrawal; or
(2) a person who is merely authorized to make a request as the agent of another.
[Pre-2002 Recodification Citation: 32-4-1.5-1(7).]
As added by P.L.2-2002, SEC.2. Amended by P.L.143-2009, SEC.34.
2023 Indiana Code › Title 32. Property › Article 17. Interests in Property › Chapter 11. Multiple Party Accounts › 32-17-11-8. "Payment" Defined

Sec. 8. As used in this chapter, "payment" of sums on deposit includes the following:
(1) Withdrawal.
(2) Payment on check or other directive of a party.
(3) Any pledge of sums on deposit by a party.
(4) Any set-off, reduction, or other disposition of all or part of any account pursuant to a pledge.
[Pre-2002 Recodification Citation: 32-4-1.5-1(8).]
As added by P.L.2-2002, SEC.2.
2023 Indiana Code › Title 32. Property › Article 17. Interests in Property › Chapter 11. Multiple Party Accounts › 32-17-11-9. "Proof of Death" Defined

Sec. 9. As used in this chapter, "proof of death" includes a death certificate, an affidavit of death, or a record or report that is prima facie proof of death under IC 29-2-6, IC 29-2-7 (before its repeal), or IC 29-2-14.
[Pre-2002 Recodification Citation: 32-4-1.5-1(9).]
As added by P.L.2-2002, SEC.2.
2023 Indiana Code › Title 32. Property › Article 17. Interests in Property › Chapter 11. Multiple Party Accounts › 32-17-11-10. Repealed

[Pre-2002 Recodification Citation: 32-4-1.5-1(10).]
As added by P.L.2-2002, SEC.2. Repealed by P.L.143-2009, SEC.52.
2023 Indiana Code › Title 32. Property › Article 17. Interests in Property › Chapter 11. Multiple Party Accounts › 32-17-11-11. Repealed

[Pre-2002 Recodification Citation: 32-4-1.5-1(11).]
As added by P.L.2-2002, SEC.2. Repealed by P.L.143-2009, SEC.52.
2023 Indiana Code › Title 32. Property › Article 17. Interests in Property › Chapter 11. Multiple Party Accounts › 32-17-11-12. "Request" Defined

Sec. 12. As used in this chapter, "request" means:
(1) a proper request for withdrawal; or
(2) a check or order for payment;
that complies with all conditions of the account, including special requirements concerning necessary signatures and regulations of the financial institution. If the financial institution conditions withdrawal or payment on advance notice, for purposes of this section, the request for withdrawal or payment is treated as immediately effective and a notice of intent to withdraw is treated as a request for withdrawal.
[Pre-2002 Recodification Citation: 32-4-1.5-1(12).]
As added by P.L.2-2002, SEC.2.
2023 Indiana Code › Title 32. Property › Article 17. Interests in Property › Chapter 11. Multiple Party Accounts › 32-17-11-13. "Sums on Deposit" Defined

Sec. 13. As used in this chapter, "sums on deposit" means the balance payable on a multiple party account, including interest, dividends, and any deposit life insurance proceeds added to the account by reason of the death of a party.
[Pre-2002 Recodification Citation: 32-4-1.5-1(13).]
As added by P.L.2-2002, SEC.2.
2023 Indiana Code › Title 32. Property › Article 17. Interests in Property › Chapter 11. Multiple Party Accounts › 32-17-11-14. "Trust Account" Defined

Sec. 14. (a) As used in this chapter, "trust account" means an account in the name of at least one (1) party as trustee for at least one (1) beneficiary if:
(1) the relationship is established by the form of the account and the deposit agreement with the financial institution; and
(2) there is no subject of the trust other than the sums on deposit in the account.
It is not essential that payment to the beneficiary be mentioned in the deposit agreement.
(b) The term does not include the following:
(1) A regular trust account under a testamentary trust.
(2) A trust agreement that has significance apart from the account.
(3) A fiduciary account arising from a fiduciary relation such as attorney-client.
[Pre-2002 Recodification Citation: 32-4-1.5-1(14).]
As added by P.L.2-2002, SEC.2.
2023 Indiana Code › Title 32. Property › Article 17. Interests in Property › Chapter 11. Multiple Party Accounts › 32-17-11-15. "Withdrawal" Defined

Sec. 15. As used in this chapter, "withdrawal" includes payment to a third person pursuant to a check or other directive of a party.
[Pre-2002 Recodification Citation: 32-4-1.5-1(15).]
As added by P.L.2-2002, SEC.2.
2023 Indiana Code › Title 32. Property › Article 17. Interests in Property › Chapter 11. Multiple Party Accounts › 32-17-11-16. Application of Certain Sections

Sec. 16. (a) The provisions of sections 17, 18, and 19 of this chapter concerning beneficial ownership as between parties, or as between parties and beneficiaries of multiple party accounts:
(1) apply only to controversies between:
(A) the parties or the beneficiaries of multiple party accounts; and
(B) creditors and other successors of:
(i) the parties; or
(ii) the beneficiaries of multiple party accounts; and
(2) do not affect the power of withdrawal of the parties or the beneficiaries of multiple party accounts as determined by the terms of account contracts.
(b) The provisions of sections 22 through 27 of this chapter govern the liability and set-off rights of financial institutions that make payments under sections 22 through 27 of this chapter.
[Pre-2002 Recodification Citation: 32-4-1.5-2.]
As added by P.L.2-2002, SEC.2. Amended by P.L.143-2009, SEC.35.
2023 Indiana Code › Title 32. Property › Article 17. Interests in Property › Chapter 11. Multiple Party Accounts › 32-17-11-17. Ownership of Accounts

Sec. 17. (a) Unless there is clear and convincing evidence of a different intent, during the lifetime of all parties, a joint account belongs to the parties in proportion to the net contributions by each party to the sums on deposit.
(b) Unless:
(1) a contrary intent is manifested by the terms of the account or the deposit agreement; or
(2) there is other clear and convincing evidence of an irrevocable trust;
a trust account belongs beneficially to the trustee during the trustee's lifetime. If at least two (2) parties are named as trustee on the account, subsection (a) governs the beneficial rights of the trustees during their lifetimes. If there is an irrevocable trust, the account belongs beneficially to the beneficiary.
[Pre-2002 Recodification Citation: 32-4-1.5-3.]
As added by P.L.2-2002, SEC.2. Amended by P.L.143-2009, SEC.36.
2023 Indiana Code › Title 32. Property › Article 17. Interests in Property › Chapter 11. Multiple Party Accounts › 32-17-11-18. Ownership of Accounts at Death of Party, Original Payee, or Trustee

Sec. 18. (a) Sums remaining on deposit at the death of a party to a joint account belong to the surviving party or parties as against the estate of the decedent unless there is clear and convincing evidence of a different intention at the time the account is created. If there are at least two (2) surviving parties, their respective ownerships during lifetime are:
(1) in proportion to their previous ownership interests under section 17 of this chapter; and
(2) augmented by an equal share for each survivor of any interest the decedent may have owned in the account immediately before the person's death.
The right of survivorship continues between the surviving parties.
(b) If the account is a trust account, on death of the trustee or the survivor of at least two (2) trustees, any sums remaining on deposit belong to the person or persons named as beneficiaries who survive the trustee, unless there is clear and convincing evidence of a contrary intent. If at least two (2) beneficiaries survive, there is no right of survivorship between the beneficiaries unless the terms of the account or deposit agreement expressly provide for survivorship.
(c) Except as provided in subsections (a) and (b), the death of any party to a multiple party account has no effect on beneficial ownership of the account other than to transfer the rights of the decedent as part of the decedent's estate.
(d) A right of survivorship arising:
(1) from the express terms of the account; or
(2) under:
(A) this section; or
(B) a beneficiary designation in a trust account;
cannot be changed by will.
[Pre-2002 Recodification Citation: 32-4-1.5-4.]
As added by P.L.2-2002, SEC.2. Amended by P.L.143-2009, SEC.37.
2023 Indiana Code › Title 32. Property › Article 17. Interests in Property › Chapter 11. Multiple Party Accounts › 32-17-11-19. Rights of Survivorship

Sec. 19. (a) The provisions of section 18 of this chapter as to rights of survivorship are determined by the form of the account at the death of a party.
(b) The form of an account may be altered by written order given by a party to the financial institution to:
(1) change the form of the account; or
(2) stop or vary payment under the terms of the account.
(c) An order or request described in subsection (b) must be:
(1) signed by a party;
(2) received by the financial institution during the party's lifetime; and
(3) not countermanded by another written order of the same party during the party's lifetime.
[Pre-2002 Recodification Citation: 32-4-1.5-5.]
As added by P.L.2-2002, SEC.2.
2023 Indiana Code › Title 32. Property › Article 17. Interests in Property › Chapter 11. Multiple Party Accounts › 32-17-11-20. Certain Transfers Not Testamentary

Sec. 20. Any transfers resulting from the application of section 18 of this chapter are:
(1) effective by reason of:
(A) the account contracts involved; and
(B) this chapter; and
(2) not to be considered as:
(A) testamentary; or
(B) subject to IC 29.
[Pre-2002 Recodification Citation: 32-4-1.5-6.]
As added by P.L.2-2002, SEC.2.
2023 Indiana Code › Title 32. Property › Article 17. Interests in Property › Chapter 11. Multiple Party Accounts › 32-17-11-21.1. Liability for Creditor Claims and Statutory Allowances; Applicable Law

Sec. 21.1. The liability of a surviving party or beneficiary for creditor claims and statutory allowances is determined under IC 32-17-13.
As added by P.L.165-2002, SEC.12. Amended by P.L.143-2009, SEC.38.
2023 Indiana Code › Title 32. Property › Article 17. Interests in Property › Chapter 11. Multiple Party Accounts › 32-17-11-22. Payments; Multiple Party Accounts

Sec. 22. (a) Financial institutions may enter into multiple party accounts to the same extent that they may enter into single party accounts.
(b) Any multiple party account may be paid, on request, to any one (1) or more of the parties.
(c) For purposes of establishing net contributions, a financial institution is not required to inquire as to:
(1) the source of funds received for deposit to a multiple party account; or
(2) the proposed application of any sum withdrawn from an account.
[Pre-2002 Recodification Citation: 32-4-1.5-8.]
As added by P.L.2-2002, SEC.2.
2023 Indiana Code › Title 32. Property › Article 17. Interests in Property › Chapter 11. Multiple Party Accounts › 32-17-11-23. Payments; Joint Accounts

Sec. 23. (a) Except as provided in subsection (b), any sums in a joint account may be paid, on request, to any party without regard to whether any other party is incapacitated or deceased at the time the payment is demanded.
(b) Payment may not be made to the personal representative or heirs of a deceased party unless:
(1) proofs of death are presented to the financial institution showing that the decedent was the last surviving party; or
(2) there is no right of survivorship under section 18 of this chapter.
[Pre-2002 Recodification Citation: 32-4-1.5-9.]
As added by P.L.2-2002, SEC.2.
2023 Indiana Code › Title 32. Property › Article 17. Interests in Property › Chapter 11. Multiple Party Accounts › 32-17-11-25. Payments; Trust Accounts

Sec. 25. A trust account may be paid, on request:
(1) to any trustee;
(2) unless the financial institution has received written notice that the beneficiary has a vested interest not dependent upon the beneficiary surviving the trustee, if proof of death is presented to the financial institution showing that the decedent was the survivor of all other persons named on the account either as trustee or beneficiary, to the personal representative or heirs of a deceased trustee; and
(3) upon presentation to the financial institution of proof of death showing that the beneficiary or beneficiaries survived all persons named as trustee, to the beneficiary or beneficiaries.
[Pre-2002 Recodification Citation: 32-4-1.5-11.]
As added by P.L.2-2002, SEC.2.
2023 Indiana Code › Title 32. Property › Article 17. Interests in Property › Chapter 11. Multiple Party Accounts › 32-17-11-26. Payments; Discharge of Financial Institutions From All Claims

Sec. 26. (a) Payment made under section 22, 23, or 25 of this chapter discharges the financial institution from all claims for amounts paid whether or not the payment is consistent with the beneficial ownership of the account as between parties, beneficiaries, or their successors.
(b) The protection provided under this section does not extend to payments made after a financial institution has received written notice from any party able to request present payment to the effect that withdrawals in accordance with the terms of the account should not be permitted.
(c) Unless a notice described in subsection (b) is withdrawn by the person giving it, the successor of any deceased party must concur in any demand for withdrawal if the financial institution is to be protected under this section.
(d) No other notice or any other information shown to have been available to a financial institution affects the institution's right to the protection provided under this section.
(e) The protection provided under this section does not affect the rights of parties in disputes between themselves or their successors concerning the beneficial ownership of funds in or withdrawn from multiple party accounts.
[Pre-2002 Recodification Citation: 32-4-1.5-12.]
As added by P.L.2-2002, SEC.2. Amended by P.L.143-2009, SEC.39.
2023 Indiana Code › Title 32. Property › Article 17. Interests in Property › Chapter 11. Multiple Party Accounts › 32-17-11-27. Right of Financial Institutions to Set Off Against Accounts

Sec. 27. (a) Without qualifying any other statutory right to set off or lien and subject to any contractual provision, if a party to a multiple party account is indebted to a financial institution, the financial institution has a right to set off against the account in which the party has, or had immediately before the party's death, a present right of withdrawal.
(b) The amount of the account subject to set off as described in subsection (a) is that proportion to which the debtor is, or was immediately before the debtor's death, beneficially entitled.
(c) In the absence of proof of net contributions, the amount of the account subject to set off as described in subsection (a) is an equal share with all parties having present rights of withdrawal.
[Pre-2002 Recodification Citation: 32-4-1.5-13.]
As added by P.L.2-2002, SEC.2.
2023 Indiana Code › Title 32. Property › Article 17. Interests in Property › Chapter 11. Multiple Party Accounts › 32-17-11-28. Provisions in Certain Agreements Nontestamentary; Creditors' Rights

Sec. 28. (a) Any of the following provisions in an insurance policy, contract of employment, bond, mortgage, promissory note, deposit agreement, pension plan, trust agreement, conveyance, or any other written instrument effective as a contract, gift, conveyance, or trust is considered to be nontestamentary, and this title and IC 29 do not invalidate the instrument or any provision:
(1) That money or other benefits due to, controlled, or owned by a decedent before the person's death shall be paid after the person's death to a person designated by the decedent in either the instrument or a separate writing, including a will, executed at the same time as the instrument or subsequently.
(2) That any money due or to become due under the instrument shall cease to be payable in event of the death of the promisee or the promisor before payment or demand.
(3) That any property that is the subject of the instrument shall pass to a person designated by the decedent in either the instrument or a separate writing, including a will, executed at the same time as the instrument or subsequently.
(b) This section does not limit the rights of creditors under other Indiana laws.
[Pre-2002 Recodification Citation: 32-4-1.5-14.]
As added by P.L.2-2002, SEC.2.
2023 Indiana Code › Title 32. Property › Article 17. Interests in Property › Chapter 11. Multiple Party Accounts › 32-17-11-29. Personal Property Owned as Tenants in Common; Exceptions

Sec. 29. (a) This section does not apply to an account.
(b) Except as provided in subsection (c), personal property that is owned by two (2) or more persons is owned by them as tenants in common unless expressed otherwise in a written instrument.
(c) Upon the death of either husband or wife:
(1) household goods:
(A) acquired during marriage; and
(B) in possession of both husband and wife; and
(2) any:
(A) promissory note;
(B) bond;
(C) certificate of title to a motor vehicle; or
(D) other written or printed instrument;
evidencing an interest in tangible or intangible personal property in the name of both husband and wife;
becomes the sole property of the surviving spouse unless a clear contrary intention is expressed in a written instrument.
[Pre-2002 Recodification Citation: 32-4-1.5-15.]
As added by P.L.2-2002, SEC.2.
2023 Indiana Code › Title 32. Property › Article 17. Interests in Property › Chapter 12. Contracts Concerning United States Lands › 32-17-12-1. Voidance of Contracts

Sec. 1. A contract for valid consideration:
(1) to sell any interest, real or supposed, in any land belonging to the United States;
(2) for the occupancy of land belonging to the United States; or
(3) for any improvement made on land belonging to the United States;
may not be voided by either party or the party's heirs, executors, administrators, or assigns if the nature and extent of the interest were, at the time of contract, known to the party, and the party's consent to the interest was obtained without fraud, conspiracy, or misrepresentation.
[Pre-2002 Recodification Citation: 32-1-11-1.]
As added by P.L.2-2002, SEC.2.
2023 Indiana Code › Title 32. Property › Article 17. Interests in Property › Chapter 13. Liability of Nonprobate Transferees for Creditor Claims and Statutory Allowances › 32-17-13-1. "Nonprobate Transfer"; Transfers Involving Multiple Party Accounts, Motor Vehicles, and Watercraft

Sec. 1. (a) As used in this chapter, "nonprobate transfer" means a valid transfer, effective at death, by a transferor:
(1) whose last domicile was in Indiana; and
(2) who immediately before death had the power, acting alone, to prevent transfer of the property by revocation or withdrawal and:
(A) use the property for the benefit of the transferor; or
(B) apply the property to discharge claims against the transferor's probate estate.
(b) The term does not include a transfer at death (other than a transfer to or from the deceased transferor's probate estate) of:
(1) a survivorship interest in a tenancy by the entireties real estate;
(2) a life insurance policy or annuity;
(3) the death proceeds of a life insurance policy or annuity;
(4) an individual retirement account or a similar account or plan; or
(5) benefits under an employee benefit plan.
(c) With respect to a nonprobate transfer involving a multiple party account, a nonprobate transfer occurs if the last domicile of the depositor whose interest is transferred under IC 32-17-11 was in Indiana.
(d) With respect to a motor vehicle or a watercraft, a nonprobate transfer occurs if the transferee obtains a certificate of title in Indiana under IC 9-17.
(e) A transfer on death transfer completed under IC 32-17-14 is a nonprobate transfer.
As added by P.L.165-2002, SEC.11. Amended by P.L.143-2009, SEC.40; P.L.6-2010, SEC.22; P.L.36-2011, SEC.10; P.L.125-2012, SEC.408; P.L.198-2016, SEC.661; P.L.163-2018, SEC.15.
2023 Indiana Code › Title 32. Property › Article 17. Interests in Property › Chapter 13. Liability of Nonprobate Transferees for Creditor Claims and Statutory Allowances › 32-17-13-2. "Claimant"; "Nonprobate Transferee"; Liability of Nonprobate Transferee

Sec. 2. (a) As used in this chapter, "claimant" means the surviving spouse or a surviving child, to the extent that statutory allowances are affected, or a person who has filed a timely claim in a deceased transferor's probate estate under IC 29-1-14, and is entitled to enforce the claim against a transferee of a nonprobate transfer.
(b) As used in this chapter, "nonprobate transferee" means a person who acquires an interest in property by a nonprobate transfer.
(c) Except as otherwise provided by statute, a transferee of a nonprobate transfer is subject to liability to a deceased transferor's probate estate for:
(1) allowed claims against the deceased transferor's probate estate; and
(2) statutory allowances to the decedent's spouse and children;
to the extent the decedent's probate estate is insufficient to satisfy those claims and allowances.
(d) The liability of the nonprobate transferee may not exceed the value of nonprobate transfers received or controlled by the nonprobate transferee.
(e) The liability of the nonprobate transferee does not include the net contributions of the nonprobate transferee.
As added by P.L.165-2002, SEC.11. Amended by P.L.163-2018, SEC.16.
2023 Indiana Code › Title 32. Property › Article 17. Interests in Property › Chapter 13. Liability of Nonprobate Transferees for Creditor Claims and Statutory Allowances › 32-17-13-3. Priority of Liability to Probate Estate

Sec. 3. Nonprobate transferees are liable for the insufficiency described in section 2 of this chapter in the following order:
(1) As provided in the deceased transferor's will or other governing instrument.
(2) To the extent of the value of the nonprobate transfer received or controlled by the trustee of trusts that can be amended, modified, or revoked by the decedent during the deceased transferor's lifetime. If there is more than one (1) such trust, in proportion to the relative value of the trusts.
(3) Other nonprobate transferees in proportion to the values received.
As added by P.L.165-2002, SEC.11. Amended by P.L.163-2018, SEC.17.
2023 Indiana Code › Title 32. Property › Article 17. Interests in Property › Chapter 13. Liability of Nonprobate Transferees for Creditor Claims and Statutory Allowances › 32-17-13-4. Beneficiary Interests in Trusts

Sec. 4. Unless otherwise provided by the trust instrument, interest of beneficiaries in all trusts incurring liabilities under this chapter shall abate as necessary to satisfy the liability as if all of the trust instruments were a single trust.
As added by P.L.165-2002, SEC.11. Amended by P.L.101-2008, SEC.11.
2023 Indiana Code › Title 32. Property › Article 17. Interests in Property › Chapter 13. Liability of Nonprobate Transferees for Creditor Claims and Statutory Allowances › 32-17-13-5. Apportionment of Liability by Instrument

Sec. 5. (a) A provision made in an instrument may direct the apportionment of the liability among the nonprobate transferees taking under that or any other governing instrument.
(b) If a provision in an instrument conflicts with a provision in another instrument, the later provision prevails.
As added by P.L.165-2002, SEC.11.
2023 Indiana Code › Title 32. Property › Article 17. Interests in Property › Chapter 13. Liability of Nonprobate Transferees for Creditor Claims and Statutory Allowances › 32-17-13-6. Enforcement Proceedings; Jurisdiction

Sec. 6. (a) Upon due notice to a nonprobate transferee, the liability imposed by this chapter is enforceable in proceedings in Indiana in the county where:
(1) the transfer occurred;
(2) the transferee is located; or
(3) the probate action is pending.
(b) A proceeding under this chapter may be commenced as a separate cause from a cause in which a probate action is pending with respect to a deceased transferor of a nonprobate transfer by filing a complaint against a nonprobate transferee as a defendant and serving a summons and a complete copy of the complaint to each defendant under the Indiana Rules of Trial Procedure.
As added by P.L.165-2002, SEC.11. Amended by P.L.163-2018, SEC.18.
2023 Indiana Code › Title 32. Property › Article 17. Interests in Property › Chapter 13. Liability of Nonprobate Transferees for Creditor Claims and Statutory Allowances › 32-17-13-8. Deadline for Commencement of Proceedings

Sec. 8. (a) This subsection applies to a proceeding commenced under this chapter with respect to a deceased transferor who died before July 1, 2018, if the personal representative or claimant commences the proceeding before January 1, 2020. A proceeding under this chapter must be commenced not later than nine (9) months after the deceased transferor's death. However, a proceeding on behalf of a creditor whose claim was timely filed may be commenced within:
(1) sixty (60) days after the final allowance of the claim; or
(2) ninety (90) days after demand is made under section 7 of this chapter if the personal representative declines or fails to commence a proceeding after receiving the demand.
(b) This subsection applies to a proceeding commenced under this chapter with respect to a deceased transferor who dies on or after June 30, 2018. A proceeding under this chapter must be commenced not later than nine (9) months after the deceased transferor's death, but a proceeding on behalf of a claimant whose claim was timely filed in the deceased transferor's estate may be commenced after the final allowance of the claim within the earlier of:
(1) thirty (30) days after the personal representative files in the deceased transferor's estate after final allowance of the claim a written notice that the personal representative does not intend to commence a proceeding under this chapter; or
(2) ninety (90) days after final allowance of the claim if:
(A) the personal representative declines or fails to commence a proceeding after receiving the demand under section 7 of this chapter; and
(B) the personal representative does not file a written notice in the deceased transferor's estate that the personal representative does not intend to commence a proceeding under this chapter.
As added by P.L.165-2002, SEC.11. Amended by P.L.6-2010, SEC.24; P.L.163-2018, SEC.20; P.L.231-2019, SEC.42.
2023 Indiana Code › Title 32. Property › Article 17. Interests in Property › Chapter 13. Liability of Nonprobate Transferees for Creditor Claims and Statutory Allowances › 32-17-13-9. Release of Obligor or Trustee From Liability for Transfer of Assets to Nonprobate Transferee

Sec. 9. Unless written notice asserting that a deceased transferor's probate estate is insufficient to pay allowed claims and statutory allowances has been received from the deceased transferor's personal representative, the following rules apply:
(1) Payment or delivery of assets by a financial institution, registrar, or another obligor to a nonprobate transferee under the terms of the governing instrument controlling the transfer releases the obligor from all claims for amounts paid or assets delivered.
(2) A trustee receiving or controlling a nonprobate transfer is released from liability under this section on any assets distributed to the trust's beneficiaries. Each beneficiary, to the extent of the distribution received, becomes liable for the amount of the trustee's liability attributable to that asset imposed by sections 2 and 3 of this chapter.
As added by P.L.165-2002, SEC.11. Amended by P.L.163-2018, SEC.21.
2023 Indiana Code › Title 32. Property › Article 17. Interests in Property › Chapter 13. Liability of Nonprobate Transferees for Creditor Claims and Statutory Allowances › 32-17-13-10. Recovery of Value of Nonprobate Transfer From Nonprobate Transferee; Intervention

Sec. 10. (a) If the personal representative of a deceased transferor's probate estate commences a separate proceeding under this chapter and recovers all or part of the value of the nonprobate transfer from the nonprobate transferees, the personal representative must:
(1) include the value in the inventory of the deceased transferor's probate estate; and
(2) pay or distribute the value as the personal representative would pay or distribute other assets of the deceased transferor's probate estate.
(b) If:
(1) the personal representative of a deceased transferor's probate estate declines or fails to commence a proceeding under this chapter after receiving written demand;
(2) the person making the written demand commences a timely and proper action under this chapter; and
(3) the person making the written demand recovers all or part of the value of the nonprobate transfer from the nonprobate transferees;
the person making the written demand may retain the recovered value without remitting it to the personal representative of the deceased transferor's probate estate.
(c) If one (1) or more claimants of the deceased transferor's estate intervenes in the separate proceeding, the court shall enter an order allocating the recovered value among the plaintiff and other claimants according to the priorities of their claims in the deceased transferor's estate, and allow the plaintiff to retain plaintiff's costs and reasonable attorney's fees from the recovered value.
(d) Any claimant that recovers assets under this section must file a satisfaction or partial satisfaction of the claimant's claim in the deceased transferor's probate estate to the extent of the recovered value within thirty (30) days after the recovery.
As added by P.L.163-2018, SEC.22.
2023 Indiana Code › Title 32. Property › Article 17. Interests in Property › Chapter 14. Transfer on Death Property Act › 32-17-14-0.2. Application of Prior Law

Sec. 0.2. The addition of IC 32-4-1.6 ("Uniform Act on Transfer on Death Securities" before its repeal, codified at IC 32-17-9, before its repeal) does not apply to an individual whose death occurs before July 1, 1997.
As added by P.L.220-2011, SEC.518.