1. (a) In an action for dissolution of marriage under IC 31-15-2-2 , the court shall divide the property of the parties, whether:

   1. (1) owned by either spouse before the marriage;

   2. (2) acquired by either spouse in his or her own right:

      1. (A) after the marriage; and
      2. (B) before final separation of the parties; or
   3. (3) acquired by their joint efforts.

2. (b) The court shall divide the property in a just and reasonable manner by:

   1. (1) division of the property in kind;
   2. (2) setting the property or parts of the property over to one (1) of the spouses and requiring either spouse to pay an amount, either in gross or in installments, that is just and proper;
   3. (3) ordering the sale of the property under such conditions as the court prescribes and dividing the proceeds of the sale; or

   4. (4) ordering the distribution of benefits described in IC 31-9-2.1-190 (b)(2) or IC 31-9-2.1-190 (b)(3) that are payable after the dissolution of marriage, by setting aside to either of the parties a percentage of those payments either by assignment or in kind at the time of receipt.

      [Pre-1997 Recodification Citation: 31-1-11.5-11(b).]

As added by P.L.1-1997, SEC.7. Amended by P.L.145-2026, SEC.163.