CHAPTER 3. TENANCY

IC 32-17-3
    Chapter 3. Tenancy

IC 32-17-3-1
Husband and wife purchase or lease of real estate; rights ofsurvivor
    Sec. 1. (a) This section applies to a written contract in which ahusband and wife:
        (1) purchase real estate; or
        (2) lease real estate with an option to purchase.
    (b) Except as provided in subsection (d), a contract described insubsection (a) creates an estate by the entireties in the husband andwife. The interest of neither party is severable during the marriage.
    (c) Upon the death of either party to the marriage, the survivor isconsidered to have owned the whole of all rights under the contractfrom its inception.
    (d) If:
        (1) a contract described in subsection (a) expressly creates atenancy in common; or
        (2) it appears from the tenor of a contract described insubsection (a) that the contract was intended to create a tenancyin common;
the contract shall be construed to create a tenancy in common.
As added by P.L.2-2002, SEC.2.

IC 32-17-3-2
Divorce
    Sec. 2. If a husband and wife are divorced while a contractdescribed in section 1(a) of this chapter is in effect, the husband andwife own the interest in the contract and the equity created by thecontract in equal shares.
As added by P.L.2-2002, SEC.2.

IC 32-17-3-3
Title bond or contract for sale of land; survivorship
    Sec. 3. If:
        (1) a husband and wife execute a title bond or contract for theconveyance of real estate owned by them as tenants by theentireties; and
        (2) one (1) of the spouses dies:
            (A) during the continuance of the marriage; and
            (B) before the whole of the agreed purchase price has beenpaid;
the interest of the deceased spouse in the unpaid part of the purchaseprice passes to the surviving spouse in the same right as the survivingspouse's rights of survivorship in real estate held as tenants by theentireties.
As added by P.L.2-2002, SEC.2.

IC 32-17-3-4 Husband and wife; joint deed of conveyance
    Sec. 4. (a) A joint deed of conveyance by a husband and wife issufficient to convey and pass any interest described in the deed ofeither or both of them in land held by them as:
        (1) tenants in common;
        (2) joint tenants; or
        (3) tenants by the entireties.
    (b) An executed and recorded power of attorney by one (1) spouseto the other spouse authorizing the conveyance by the attorney in factof any interest owned:
        (1) individually by the grantor (as defined in IC 32-17-1-1) ofthe power of attorney; or
        (2) with the grantor's spouse;
enables the attorney in fact through the exercise of the power ofattorney to effectively convey the interest in land by individuallymaking a deed of conveyance.
As added by P.L.2-2002, SEC.2.