Indiana Code
Chapter 14. Transfer on Death Property Act
32-17-14-15. Beneficiary's Rights Before the Death of the Owner; Effect of the Death of a Joint Owner

Sec. 15. (a) Before the death of the owner, a beneficiary has no rights in the property because of the beneficiary designation. The signature or agreement of the beneficiary is not required for any transaction relating to property transferred under this chapter. If a lienholder takes action to enforce a lien, by foreclosure or otherwise through a court proceeding, it is not necessary to join the beneficiary as a party defendant in the action unless the beneficiary has another interest in the real property that has vested.
(b) On the death of one (1) of two (2) or more joint owners, property with respect to which a beneficiary designation has been made belongs to the surviving joint owner or owners. If at least two (2) joint owners survive, the right of survivorship continues as between the surviving owners.
(c) On the death of a tenant by the entireties, property with respect to which a beneficiary designation has been made belongs to the surviving tenant.
(d) On the death of the owner, property with respect to which a beneficiary designation has been made passes by operation of law to the beneficiary.
(e) If two (2) or more beneficiaries survive, there is no right of survivorship among the beneficiaries when the death of a beneficiary occurs after the death of the owner unless the beneficiary designation expressly provides for survivorship among the beneficiaries. Except as expressly provided otherwise, the surviving beneficiaries hold their separate interest in the property as tenants in common. The share of any beneficiary who dies after the owner dies belongs to the deceased beneficiary's estate.
(f) If no beneficiary survives the owner, the property belongs to the estate of the owner unless the beneficiary designation directs the transfer to a substitute beneficiary in the manner required by section 22 of this chapter.
As added by P.L.143-2009, SEC.41.

Structure Indiana Code

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

32-17-14-1. Citation

32-17-14-2. Applicability

32-17-14-2.1. Application of Chapter to Preexisting Transfer on Death Transfers

32-17-14-2.5. Applicability

32-17-14-3. Definitions

32-17-14-4. Transfers That Are Not Considered Transfer on Death Transfers; Beneficiary Designation Requirements and Form

32-17-14-5. General Rules Concerning Transfer on Death Transfers

32-17-14-6. Authority of a Transferring Entity

32-17-14-7. Agreement Between Owner and Transferring Entity

32-17-14-8. Transferring Entity's Acceptance of a Beneficiary Designation

32-17-14-9. Beneficiary Designation; Effects; Requirements

32-17-14-10. Assignment of Contract Rights

32-17-14-11. Transfer on Death Deeds

32-17-14-12. Transfer on Death Transfers of Tangible Personal Property

32-17-14-13. Direct Transfer to a Transferee to Hold as Owner in Beneficiary Form

32-17-14-14. Registration in Beneficiary Form

32-17-14-15. Beneficiary's Rights Before the Death of the Owner; Effect of the Death of a Joint Owner

32-17-14-16. Changing or Revoking a Beneficiary Designation

32-17-14-17. Powers of an Attorney in Fact, a Guardian, a Conservator, or an Agent

32-17-14-18. Lost, Destroyed, Damaged, or Involuntarily Converted Property Subject to a Beneficiary Designation

32-17-14-19. Effect of Conveyances, Assignments, Contracts, Set Offs, Licenses, Easements, Liens, and Security Interests

32-17-14-20. Beneficiary Required to Survive the Owner

32-17-14-21. Trusts as Designated Beneficiaries

32-17-14-22. Substitution for Designated Beneficiaries Who Do Not Survive the Owner

32-17-14-23. Effect of Dissolution or Annulment

32-17-14-24. Fraud, Duress, Undue Influence, Mistake, or Lack of Capacity

32-17-14-25. Rights of Surviving Spouses and Children

32-17-14-26. General Rules Applying to a Beneficiary Designation

32-17-14-27. Powers and Duties of a Transferring Entity

32-17-14-28. Effect of Improper Distributions

32-17-14-29. Creditors of an Owner

32-17-14-30. Change in the Beneficiary Designation, Residency of the Owner, or Location of the Transferring Entity or Property

32-17-14-31. Duties of the Probate Court

32-17-14-32. Out-of-State Beneficiary Designations