Sec. 18. If property subject to a beneficiary designation is lost, destroyed, damaged, or involuntarily converted during the owner's lifetime, the beneficiary succeeds to any right with respect to the loss, destruction, damage, or involuntary conversion that the owner would have had if the owner had survived. However, the beneficiary has no interest in any payment or substitute property received by the owner during the owner's lifetime.
Ind. Code § 32-17-14-18
Lost, destroyed, damaged, or involuntarily converted property subject to a beneficiary designation
Known as the Transfer on Death Property Act
The act spans §§ 32-17-14-0.2 to 32-17-14-9 (35 sections).
As added by P.L.143-2009, SEC.41.
Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.