What is a key factor in determining how property is held by married couples in Indiana?

In Indiana, the manner in which property is held by married couples is greatly influenced by stipulations in the deed. This is because the deed outlines the ownership structure and can specify how the property is to be titled, such as whether it is held as joint tenants, tenants by the entirety, or tenants in common.

When property is held as tenants by the entirety, which is exclusively available to married couples in Indiana, each spouse has an equal and undivided interest in the property, and the property cannot be sold or encumbered without the consent of both spouses. The deed is the critical document that dictates these conditions, making it pivotal in determining ownership rights and responsibilities.

Other factors, while potentially relevant in different contexts, do not shape the legal ownership of property in the same direct way as the deed does. Tax filings reflect financial decisions but do not affect property ownership structures. Financial agreements may influence how assets are managed or distributed but do not inherently alter title status. A will governs the distribution of assets upon death and is not a determining factor in how property is held during the marriage itself.