Indiana § 32-17-14-2 Applicability

Indiana Statutes

§ 32-17-14-2 — Applicability

Indiana·Title 32 PROPERTY·Art. 17 INTERESTS IN PROPERTY·Ch. 14 Transfer on Death Property Act

(a)Except as provided elsewhere in this chapter, this chapter applies to a transfer on death security, transfer on death securities account, and pay on death account created before July 1, 2009, unless the application of this chapter would:

(1)adversely affect a right given to an owner or beneficiary;

(2)give a right to any owner or beneficiary that the owner or beneficiary was not intended to have when the transfer on death security, transfer on death securities account, or pay on death account was created;

(3)impose a duty or liability on any person that was not intended to be imposed when the transfer on death security, transfer on death securities account, or pay on death account was created; or

(4)relieve any person from any duty or liability imposed:

(A)by the terms of the tran

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(a) Except as provided elsewhere in this
chapter, this chapter applies to a transfer on death security, transfer on
death securities account, and pay on death account created before July
1, 2009, unless the application of this chapter would:
(1) adversely affect a right given to an owner or beneficiary;
(2) give a right to any owner or beneficiary that the owner or
beneficiary was not intended to have when the transfer on death
security, transfer on death securities account, or pay on death
account was created;
(3) impose a duty or liability on any person that was not intended
to be imposed when the transfer on death security, transfer on
death securities account, or pay on death account was created; or
(4) relieve any person from any duty or liability imposed:
(A) by the terms of the transfer on death security, transfer on
death securities account, or pay on death account; or
(B) under prior law.
(b) Subject to section 32 of this chapter, this chapter applies to a
transfer on death transfer if at the time the owner designated the
beneficiary:
(1) the owner was a resident of Indiana;
(2) the property subject to the beneficiary designation was
situated in Indiana;
(3) the obligation to pay or deliver arose in Indiana;
(4) the transferring entity was a resident of Indiana or had a place
of business in Indiana; or
(5) the transferring entity's obligation to make the transfer was
accepted in Indiana.
(c) This chapter does not apply to property, money, or benefits paid
or transferred at death under a life or accidental death insurance policy,
annuity, contract, plan, or other product sold or issued by a life
insurance company unless the provisions of this chapter are
incorporated into the policy or beneficiary designation in whole or in
part by express reference.
(d) This chapter does not apply to a transfer on death transfer if the
beneficiary designation or an applicable law expressly provides that
this chapter does not apply to the transfer.
(e) Subject to IC 9-17-3-9(g), this chapter applies to a beneficiary
designation for the transfer on death of a motor vehicle or a watercraft.
(f) The provisions of:
(1) section 22 of this chapter; and
(2) section 26(b)(9) of this chapter;
relating to distributions to lineal descendants per stirpes apply to a
transfer on death or payable on death transfer created before July 1,
2009.