Title 32, PROPERTY

Sec. 12. As used in this chapter, "request" means: (1) a proper request for withdrawal; or (2) a check or order for payment; that complies with all conditions of the account, including special requirements concerning necessary signatures and regulations of the financial instituti…

Sec. 13. As used in this chapter, "sums on deposit" means the balance payable on a multiple party account, including interest, dividends, and any deposit life insurance proceeds added to the account by reason of the death of a party. [Pre-2002 Recodification Citation: 32-4-1.5-1(…

Sec. 14. (a) As used in this chapter, "trust account" means an account in the name of at least one (1) party as trustee for at least one (1) beneficiary if: (1) the relationship is established by the form of the account and the deposit agreement with the financial institution; an…

Sec. 15. As used in this chapter, "withdrawal" includes payment to a third person pursuant to a check or other directive of a party. [Pre-2002 Recodification Citation: 32-4-1.5-1(15).] As added by P.L.2-2002, SEC.2.

Sec. 16. (a) The provisions of sections 17, 18, and 19 of this chapter concerning beneficial ownership as between parties, or as between parties and beneficiaries of multiple party accounts: (1) apply only to controversies between: (A) the parties or the beneficiaries of multiple…

Sec. 17. (a) Unless there is clear and convincing evidence of a different intent, during the lifetime of all parties, a joint account belongs to the parties in proportion to the net contributions by each party to the sums on deposit. (b) Unless: (1) a contrary intent is manifeste…

Sec. 18. (a) Sums remaining on deposit at the death of a party to a joint account belong to the surviving party or parties as against the estate of the decedent unless there is clear and convincing evidence of a different intention at the time the account is created. If there are…

Sec. 19. (a) The provisions of section 18 of this chapter as to rights of survivorship are determined by the form of the account at the death of a party. (b) The form of an account may be altered by written order given by a party to the financial institution to: (1) change the fo…

Sec. 2. As used in this chapter, "beneficiary" means a person named in a trust account as one for whom a party to the account is named as trustee. [Pre-2002 Recodification Citation: 32-4-1.5-1(2).] As added by P.L.2-2002, SEC.2.

Sec. 20. Any transfers resulting from the application of section 18 of this chapter are: (1) effective by reason of: (A) the account contracts involved; and (B) this chapter; and (2) not to be considered as: (A) testamentary; or (B) subject to IC 29. [Pre-2002 Recodification Cita…

Sec. 21.1. The liability of a surviving party or beneficiary for creditor claims and statutory allowances is determined under IC 32-17-13. As added by P.L.165-2002, SEC.12. Amended by P.L.143-2009, SEC.38.

Sec. 22. (a) Financial institutions may enter into multiple party accounts to the same extent that they may enter into single party accounts. (b) Any multiple party account may be paid, on request, to any one (1) or more of the parties. (c) For purposes of establishing net contri…

Sec. 23. (a) Except as provided in subsection (b), any sums in a joint account may be paid, on request, to any party without regard to whether any other party is incapacitated or deceased at the time the payment is demanded. (b) Payment may not be made to the personal representat…

Sec. 25. A trust account may be paid, on request: (1) to any trustee; (2) unless the financial institution has received written notice that the beneficiary has a vested interest not dependent upon the beneficiary surviving the trustee, if proof of death is presented to the financ…

Sec. 26. (a) Payment made under section 22, 23, or 25 of this chapter discharges the financial institution from all claims for amounts paid whether or not the payment is consistent with the beneficial ownership of the account as between parties, beneficiaries, or their successors…

Sec. 27. (a) Without qualifying any other statutory right to set off or lien and subject to any contractual provision, if a party to a multiple party account is indebted to a financial institution, the financial institution has a right to set off against the account in which the …

Sec. 28. (a) Any of the following provisions in an insurance policy, contract of employment, bond, mortgage, promissory note, deposit agreement, pension plan, trust agreement, conveyance, or any other written instrument effective as a contract, gift, conveyance, or trust is consi…

Sec. 29. (a) This section does not apply to an account. (b) Except as provided in subsection (c), personal property that is owned by two (2) or more persons is owned by them as tenants in common unless expressed otherwise in a written instrument. (c) Upon the death of either husb…

Sec. 3. (a) As used in this chapter, "financial institution" means any organization authorized to do business in Indiana under IC 28 or federal law relating to financial institutions. (b) The term includes the following: (1) Banks and trust companies. (2) Building and loan associ…

Sec. 4. As used in this chapter, "joint account" means an account payable on request to one (1) or more of two (2) or more parties whether or not mention is made of any right of survivorship. [Pre-2002 Recodification Citation: 32-4-1.5-1(4).] As added by P.L.2-2002, SEC.2.

Sec. 5. (a) As used in this chapter, "multiple party account" means any of the following types of accounts: (1) A joint account. (2) A trust account. (b) The term does not include accounts established for deposit of funds of a partnership, joint venture, or other association for …

Sec. 6. As used in this chapter, "net contribution" of a party to a joint account as of any given time means the sum of: (1) all deposits made by or for the party; minus (2) all withdrawals made by or for the party that have not been paid to or applied to the use of any other par…

Sec. 7. (a) As used in this chapter, "party" means a person who, by the terms of the account, has a present right, subject to request, to payment from a multiple party account. A beneficiary of a trust account is a party only after the account becomes payable to the payee or bene…

Sec. 8. As used in this chapter, "payment" of sums on deposit includes the following: (1) Withdrawal. (2) Payment on check or other directive of a party. (3) Any pledge of sums on deposit by a party. (4) Any set-off, reduction, or other disposition of all or part of any account p…

Sec. 9. As used in this chapter, "proof of death" includes a death certificate, an affidavit of death, or a record or report that is prima facie proof of death under IC 29-2-6, IC 29-2-7 (before its repeal), or IC 29-2-14. [Pre-2002 Recodification Citation: 32-4-1.5-1(9).] As add…

Sec. 1. This chapter does not apply to a railroad right-of-way that is abandoned as part of a demonstration project for the relocation of railroad lines from the central area of a city as provided under Section 163 of the Federal-Aid Highway Act of 1973 (P.L.93-87, Title I, Secti…

Sec. 10. (a) This section applies if a railroad does not own the right-of-way fee. (b) If a railroad abandons its right to a railroad right-of-way, the railroad's interest vests in the owner of the right-of-way fee with a deed that contains a description of the real property that…

Sec. 11. (a) The vesting of a railroad's interest under section 10 of this chapter does not divest a valid public utility, communication, cable television, fiber optic, or pipeline easement, license, or legal occupancy if the railroad granted the easement before the date on which…

Sec. 12. (a) A person may bring an action to establish full rights of possession of the person's right-of-way fee in any part of a right-of-way that is burdened by an easement for railroad purposes not more than thirty (30) years after the right-of-way is abandoned under this cha…

Sec. 13. Except as provided in section 14 of this chapter, the ownership of a right-of-way fee is determined under the same principles that fee simple ownership in property is otherwise determined under Indiana law. [Pre-2002 Recodification Citation: 32-5-12-13.] As added by P.L.…

Sec. 14. For purposes of this chapter, the following are not adverse possessions or prescriptive easements to the owner and do not establish title or rights to the real property: (1) Possession of a right-of-way by a nonrailroad purchaser under section 8 of this chapter. (2) Poss…

Sec. 15. If a railroad owns a right-of-way fee that becomes landlocked after the right-of-way is abandoned, the railroad retains an easement of necessity in the abandoned right-of-way: (1) from the landlocked property to the nearest public highway, road, or street; and (2) to the…

Sec. 2. As used in this chapter, "public utility" has the meaning set forth in IC 8-1-8.5-1. [Pre-2002 Recodification Citation: 32-5-12-2.] As added by P.L.2-2002, SEC.8.

Sec. 3. (a) As used in this chapter, "railroad" refers to a railroad company. (b) The term includes a person to whom any part of a right-of-way was transferred under the Regional Rail Reorganization Act of 1973 (45 U.S.C. 701 et seq.). [Pre-2002 Recodification Citation: 32-5-12-3…

Sec. 4. (a) As used in this chapter, "right-of-way" means a strip or parcel of real property in which a railroad has acquired an interest for use as a part of the railroad's transportation corridor. (b) The term does not refer to any real property interest in the strip or parcel.…

Sec. 5. "Right-of-way fee" refers to the fee simple interest in the real property through which a right-of-way runs. [Pre-2002 Recodification Citation: 32-5-12-5.] As added by P.L.2-2002, SEC.8.

Sec. 6. (a) Except as provided in subsection (b) and in sections 7 and 8 of this chapter, a right-of-way is considered abandoned if any of subdivisions (1) through (3) apply: (1) Before February 28, 1920, both of the following occurred: (A) The railroad discontinued use of the ri…

Sec. 7. A right-of-way is not considered abandoned if the Interstate Commerce Commission or the United States Surface Transportation Board imposes on the right-of-way a trail use condition under 16 U.S.C. 1247(d). [Pre-2002 Recodification Citation: 32-5-12-7.] As added by P.L.2-2…

Sec. 8. (a) A right-of-way is not considered abandoned if the following conditions are met: (1) The railroad sells the railroad's rights in the right-of-way before abandoning the right-of-way. (2) The purchaser of the railroad's rights in the right-of-way is not a railroad. (3) T…

Sec. 9. If a railroad conveys its interest in a right-of-way, the railroad conveys not more than the interest it holds at the time of the conveyance. [Pre-2002 Recodification Citation: 32-5-12-9.] As added by P.L.2-2002, SEC.8.

Sec. 1. Registered professional engineers, registered land surveyors, and registered architects may secure and enforce the same lien that is now given to contractors, subcontractors, mechanics, journeymen, laborers, and materialmen under IC 32-28-3 and any statutes that supplemen…

Sec. 2. A lien created under this chapter may be secured and enforced in the same manner as mechanic's liens are secured and enforced. [Pre-2002 Recodification Citation: 32-8-25-1 part.] As added by P.L.2-2002, SEC.13.

Sec. 1. Unless otherwise provided in this article, if the debt or obligation, and the interest on the debt or obligation, that a mortgage secures has been fully paid, lawfully tendered, and discharged, the owner, holder, or custodian of the mortgage shall: (1) release; (2) discha…

Sec. 1. (a) Each clerk of the circuit court shall keep a lis pendens record. The lis pendens record is a public record. The clerk of the circuit court may keep the lis pendens record: (1) in hard copy form; or (2) in electronic form, if all information in the lis pendens record i…

Sec. 10. (a) This section applies to orders granted by any court or judge in any cause or proceeding, whether upon a hearing or ex parte, that affect the disposition of real estate. (b) Orders described in subsection (a) may be recorded in the lis pendens record kept in the offic…

Sec. 2. (a) This section applies to a suit commenced upon a bond payable to the state in any of the courts of Indiana or in a district court of the United States sitting in Indiana. (b) The plaintiff in the case shall file with the clerk of the circuit court a written notice cont…