Bankruptcy Exemption Citations
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← Indiana Tenancy by Entirety Exemptions

Exemption: Tenancy by the entirety is recognized in Indiana. ICA 32-4-2-1. Any interest that a debtor has in real estate held as a tenant by the entirety is exempt under state law unless the debtor and spouse file a joint petition for relief. ICA § 34-55-10-2(b)(5).

Citation: Stat. - Ind. Code Ann. § 32-17-3-1

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Ind. Code Ann. § 32-17-3-1 :
32-17-3-1 Purchase or lease of real estate; rights of survivor

Sec. 1. (a) This section applies to a written contract in which a husband 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 in subsection (a) creates an estate by the entireties in the husband and wife. The interest of neither party is severable during the marriage.

(c) Upon the death of either party to the marriage, the survivor is considered to have owned the whole of all rights under the contract from its inception.

(d) If:

(1) a contract described in subsection (a) expressly creates a tenancy in common; or

(2) it appears from the tenor of a contract described in subsection (a) that the contract was intended to create a tenancy in common;

the contract shall be construed to create a tenancy in common.
Last Amended: 2002
2002
As added by P.L.2-2002, SEC.2.

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Other Indiana Exemption Citations

50 State Tenancy by Entirety Exemptions