§ 32-17-3-1 — Husband and wife purchase or lease of real estate; rights of survivor

Indiana § 32-17-3-1

• Jurisdiction: Indiana
• Title 32: PROPERTY
• Art. 17: INTERESTS IN PROPERTY
• Ch. 3: Tenancy

Text

(a) This section applies to a written contract in
which a husband and wife:
(1) purchase real estate; or
(2) lease real estate with an option to purchase.
(b) Except as provided in subsection (d), a contract described in
subsection (a) creates an estate by the entireties in the husband and
wife. The interest of neither party is severable during the marriage.
(c) Upon the death of either party to the marriage, the survivor is
considered to have owned the whole of all rights under the contract
from its inception.
(d) If:
(1) a contract described in subsection (a) expressly creates a
tenancy in common; or
(2) it appears from the tenor of a contract described in subsection
(a) that the contract was intended to create a tenancy in common;
the contract shall be construed to create a tenancy in common.
[Pre-2002 Recodification Citation: 32-4-2-1.]

Legislative History

As added by P.L.2-2002, SEC.2.