Sec. 5. A transfer on death transfer: (1) is effective with or without consideration; (2) is not considered testamentary;
(3) is not subject to the requirements for a will or for probating a will under IC 29-1; and (4) may be subject to an agreement between the owner and a transferring entity to carry out the owner's intent to transfer the property under this chapter. As added by P.L.143-2009, SEC.41.