Indiana Code 32-17-11-29. Personal property owned as tenants in common; exceptions
Current as of: 2023 | Check for updates
|
Other versions
Sec. 29. (a) This section does not apply to an account.
(c) Upon the death of either husband or wife:
(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.
Terms Used In Indiana Code 32-17-11-29
- account: means a contract of deposit of funds between a depositor and a financial institution. See Indiana Code 32-17-11-1
- Personal property: includes goods, chattels, evidences of debt, and things in action. See Indiana Code 1-1-4-5
- Personal property: All property that is not real property.
- Property: includes personal and real property. See Indiana Code 1-1-4-5
(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.