Sec. 18. If property subject to a beneficiary designation is lost, destroyed, damaged, or involuntarily converted during the owner's lifetime, the beneficiary succeeds to any right with respect to the loss, destruction, damage, or involuntary conversion that the owner would have had if the owner had survived. However, the beneficiary has no interest in any payment or substitute property received by the owner during the owner's lifetime.
As added by P.L.143-2009, SEC.41.
Structure Indiana Code
Article 17. Interests in Property
Chapter 14. Transfer on Death Property Act
32-17-14-0.2. Application of Prior Law
32-17-14-2.1. Application of Chapter to Preexisting Transfer on Death Transfers
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
32-17-14-16. Changing or Revoking a Beneficiary Designation
32-17-14-17. Powers of an Attorney in Fact, a Guardian, a Conservator, or an Agent
32-17-14-20. 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