§ 32-17-14-9 — Beneficiary designation; effects; requirements

Indiana § 32-17-14-9

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

Text

(a) Except as provided in subsection (c), a
beneficiary designation that satisfies the requirements of subsection
(b):
(1) authorizes a transfer of property under this chapter;
(2) is effective on the death of the owner of the property; and
(3) transfers the right to receive the property to the designated
beneficiary who survives the death of the owner.
(b) A beneficiary designation is effective under subsection (a) if the
beneficiary designation is:
(1) executed; and
(2) delivered;
to the transferring entity before the death of the owner.
(c) A transferring entity shall make a transfer described in
subsection (a)(3) unless there is clear and convincing evidence of the
owner's different intention at the time the beneficiary designation was
created.

Legislative History

As added by P.L.143-2009, SEC.41. Amended by P.L.6-2010, SEC.28.