Indiana’s Transfer on Death Property Act (I.C. §32-17-14, et seq.) allows a person who owns real estate to transfer that real estate to someone else upon the owner’s death. This means that as long as the owner is living he/she has complete control over the real estate, but that upon the owner’s death it will pass to the person designated in the Transfer on Death Deed, without needing to go through probate. [Note: As long as the owner is living and of sound mind, the owner can change the designated beneficiary or revoke it completely.] Because the transfer doesn’t occur until death, there are no lifetime gift tax reporting requirements.
top of page
bottom of page
Comentarios