Indiana Code 32-17-13-1. “Nonprobate transfer”; transfers involving multiple party accounts, motor vehicles, and watercraft
(1) whose last domicile was in Indiana; and
Terms Used In Indiana Code 32-17-13-1
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- nonprobate transfer: means a valid transfer, effective at death, by a transferor:
Indiana Code 32-17-13-1
- Probate: Proving a will
- Property: includes personal and real property. See Indiana Code 1-1-4-5
(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.