2017 Indiana Code
TITLE 32. Property
ARTICLE 17. INTERESTS IN PROPERTY
CHAPTER 11. Multiple Party Accounts
32-17-11-17. Ownership of accounts
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 manifested by the terms of the account or the deposit agreement; or
(2) there is other clear and convincing evidence of an irrevocable trust;
a trust account belongs beneficially to the trustee during the trustee's lifetime. If at least two (2) parties are named as trustee on the account, subsection (a) governs the beneficial rights of the trustees during their lifetimes. If there is an irrevocable trust, the account belongs beneficially to the beneficiary.
[Pre-2002 Recodification Citation: 32-4-1.5-3.]
As added by P.L.2-2002, SEC.2. Amended by P.L.143-2009, SEC.36.
