§ 32-17-11-17 — Ownership of accounts

Indiana § 32-17-11-17

• Jurisdiction: Indiana
• Title 32: PROPERTY
• Art. 17: INTERESTS IN PROPERTY
• Ch. 11: Multiple Party Accounts

Text

(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.]

Legislative History

As added by P.L.2-2002, SEC.2. Amended by P.L.143-2009, SEC.36.