Differences Between Joint Tenancies

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In Indiana, joint occupants can own genuine property collectively as renters in typical or as joint renters with right of survivorship. Citizens can also own certain personal property collectively as renters in typical or as joint renters with right of survivorship. For instance, two people can own their bank account collectively as joint renters with survivorship rights or as occupants in common.

For unmarried people, the Indiana Code presumes they own their property as tenants in typical and not as joint occupants with survivorship rights. Single spouses should mention they prefer to hold their property together as joint tenants with right of survivorship and not as tenants in common to overcome the legal presumption set forth in the Indiana Code.
It is essential to point out that the legal anticipations might not extend to bank accounts.