§ 32-17-14-8 — Transferring entity's acceptance of a beneficiary designation

Indiana § 32-17-14-8

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

Text

(a) If a transferring entity accepts a
beneficiary designation or beneficiary assignment or registers property
in beneficiary form, the acceptance or registration constitutes the
agreement of the owner and the transferring entity that, subject to this
section, the owner's property will be transferred to and placed in the
name and control of the beneficiary in accordance with the beneficiary
designation or transfer on death direction, the agreement between the
parties, and this chapter.
(b) An agreement described in subsection (a) is subject to the
owner's power to revoke or change a beneficiary designation before the
owner's death.
(c) A transferring entity's duties under an agreement described in
subsection (a) are subject to the following:
(1) Receiving proof of the owner's death.
(2) Complying with the transferring entity's requirements for
proof that the beneficiary is entitled to receive the property.

Legislative History

As added by P.L.143-2009, SEC.41.