CHAPTER 2. ESTATE

IC 32-17-2
    Chapter 2. Estate

IC 32-17-2-1
Application; two or more persons; conveyances and devises
    Sec. 1. (a) This section does not apply to:
        (1) mortgages;
        (2) conveyances in trust; or
        (3) conveyances made to husband and wife.
    (b) Every estate vested in executors or trustees as executors shallbe held by them in joint tenancy.
    (c) Except as provided in subsection (b), a conveyance or deviseof land or of any interest in land made to two (2) or more personscreates an estate in common and not in joint tenancy unless:
        (1) it is expressed in the conveyance or devise that the granteesor devisees hold the land or interest in land in joint tenancy andto the survivor of them; or
        (2) the intent to create an estate in joint tenancy manifestlyappears from the tenor of the instrument.
As added by P.L.2-2002, SEC.2.

IC 32-17-2-2
Deed of release or quitclaim
    Sec. 2. A deed of release or quitclaim passes all the estate that thegrantor (as defined in IC 32-17-1-1) may convey by a deed of bargainand sale.
As added by P.L.2-2002, SEC.2.

IC 32-17-2-3
Future estates; life estates; remainders
    Sec. 3. (a) A freehold estate and a chattel real may be created tobegin at a future day.
    (b) An estate for life:
        (1) may be created in a term of years with or without theintervention of a precedent estate; and
        (2) a remainder may be limited on the estate for life.
    (c) A remainder of a freehold or a chattel real, either contingentor vested, may be created, expectant on the termination of a term ofyears.
As added by P.L.2-2002, SEC.2.

IC 32-17-2-4
Contingent remainder
    Sec. 4. A remainder may be limited on a contingency. If thecontingency occurs, the contingency abridges or determines theprecedent estate.
As added by P.L.2-2002, SEC.2.

IC 32-17-2-5
Conveyance by tenant for life or years    Sec. 5. A conveyance made by a tenant for life or years thatpurports to grant or convey a greater estate than the tenant possessesor can lawfully convey:
        (1) does not result in a forfeiture of the tenants's estate; and
        (2) passes to the grantee or alienee all the estate that the tenantmay lawfully convey.
As added by P.L.2-2002, SEC.2.