Q: How is inherited co-owned property split when one owner passes away? Both owners are married with no will.
My sibling and I inherited property when our parents passed. She was not married at the time of inheritance, but is now. I was married at the time of inheritance. The property is in our names only. Does the inherited property go to the spouses if one of the owners pass?
Not necessarily. The spouse will receive the property only if there are no surviving children or no surviving parents of the decedent (individual who passed away). If there is a child the spouse will only receive 1/2 of the estate, 3/4ths if there is no child but decedent's parents are alive. The statute that provides how your property will be distributed if you pass without a will is Indiana Code 29-1-2-1.
If your intent is for the property to go to your spouse, I recommend adding your spouse to the deed as "tenants by the entirety", therefore if you pass the property will automatically pass to your spouse by operation of law without the need of opening an estate.
If you have any additional questions, please feel free to contact me at 317-565-1818.
Alexander Florian Steciuch agrees with this answer
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