In Indiana, joint renters can own real estate collectively as tenants in common or as joint renters with right of survivorship. Homeowners can also own certain personal effects collectively as occupants in common or as joint renters with right of survivorship. 2 individuals can own their bank account collectively as joint tenants with survivorship rights or as renters in typical.
For unmarried people, the Indiana Code presumes they own their property as renters in common and not as joint occupants with survivorship rights. Single partners must specify they prefer to hold their property together as joint tenants with right of survivorship and not as tenants in common to get rid of the legal presumption set forth in the Indiana Code.
It is important to point out that the legal presumptions might not extend to bank accounts.