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Sec. 12. (a) A deed of gift, bill of sale, or other writing intended to transfer an interest in tangible personal property is effective on the death of the owner and transfers ownership to the designated transferee beneficiary if the document:
(1) expressly creates ownership in beneficiary form;
(2) is in other respects sufficient to transfer the type of property involved; and
(3) is executed by the owner and acknowledged before a notary public or other person authorized to administer oaths.
(b) A beneficiary transfer document described in this section is not required to be supported by consideration or delivered to the transferee beneficiary.
(c) This section does not preclude other methods of transferring ownership of tangible personal property that are permitted by law and have the effect of postponing enjoyment of the property until after the death of the owner.
Cite this article: FindLaw.com - Indiana Code Title 32. Property § 32-17-14-12 - last updated June 08, 2021 | https://codes.findlaw.com/in/title-32-property/in-code-sect-32-17-14-12/
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