Small estates; affidavit of conditions; motor vehicle transfers;
securities; insurance death benefits; safe deposit boxes
Sec. 1. (a) Forty-five (45) days after the death of a decedent and
upon being presented an affidavit that complies with subsection (b),
a person:
(1) indebted to the decedent; or
(2) having possession of personal property, or an instrument
evidencing a debt, an obligation, a stock, or a chose in action
belonging to the decedent;
shall make payment of the indebtedness or deliver the personal
property or an instrument evidencing a debt, an obligation, a stock,
or a chose in action to a person claiming to be entitled to payment or
delivery of property of the decedent.
(b) The affidavit required by subsection (a) must be an affidavit
made by or on behalf of the claimant stating that:
(1) the value of the gross probate estate, wherever located (less
liens and encumbrances), does not exceed twenty-five thousand
dollars ($25,000);
(2) forty-five (45) days have elapsed since the death of the
decedent;
(3) no application or petition for the appointment of a personal
representative is pending or has been granted in any
jurisdiction; and
(4) the claimant is entitled to payment or delivery of the
property.
(c) If a motor vehicle or watercraft (as defined in IC 9-13-2-198.5)
is part of the estate, nothing in this section shall prohibit a transfer of
the certificate of title to the motor vehicle if five (5) days have
elapsed since the death of the decedent and no appointment of a
personal representative is contemplated. A transfer under this
subsection shall be made by the bureau of motor vehicles upon
receipt of an affidavit containing a statement of the conditions
required by subsection (b)(1) and (b)(4). The affidavit must be duly
executed by the distributees of the estate.
(d) A transfer agent of a security shall change the registered
ownership on the books of a corporation from the decedent to a
claimant upon the presentation of an affidavit as provided in
subsection (a).
(e) For the purposes of subsection (a), an insurance company that,
by reason of the death of the decedent, becomes obligated to pay a
death benefit to the estate of the decedent is considered a person
indebted to the decedent.
(f) For purposes of subsection (a), property in a safe deposit box
rented by a decedent from a financial institution organized or
reorganized under the law of any state (as defined in IC 28-2-17-19)
or the United States is considered personal property belonging to the
decedent in the possession of the financial institution.
(Formerly: Acts 1953, c.112, s.801; Acts 1965, c.379, s.2; Acts 1971,
P.L.406, SEC.1; Acts 1975, P.L.288, SEC.12.) As amended by Acts
1977, P.L.2, SEC.80; Acts 1977, P.L.298, SEC.1; P.L.71-1991,
SEC.15; P.L.77-1992, SEC.5; P.L.118-1997, SEC.16; P.L.59-2000,
SEC.1.
Last modified: May 27, 2006