Indiana § 13-11-2-85.6 "Foreclosure"

Indiana Statutes

§ 13-11-2-85.6 — "Foreclosure"

Indiana § 13-11-2-85.6

Art. 11DEFINITIONS

This text of Indiana § 13-11-2-85.6 ("Foreclosure") is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 13-11-2-85.6 (2026).

Text

6. "Foreclosure", for purposes of sections 148(e)(2), 150(c), and 151(e) of this chapter, means the acquisition of a vessel or facility for purposes of IC 13-25-4-8(c), an underground storage tank or aboveground storage tank for purposes of IC 13-23-13, or a petroleum facility for purposes of IC 13-24-1 through any of the following:

(1)If the vessel or facility, underground storage tank or aboveground storage tank, or petroleum facility was security for an extension of credit previously contracted:

(A)purchase at sale under a judgment or decree, power of sale, or nonjudicial foreclosure;

(B)a deed in lieu of foreclosure or a similar conveyance from a trustee; or

(C)repossession.

(2)Conveyance under an extension of credit previously contracted, including the termination of a lease agre

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6. "Foreclosure", for purposes of sections
148(e)(2), 150(c), and 151(e) of this chapter, means the acquisition of
a vessel or facility for purposes of IC 13-25-4-8(c), an underground
storage tank or aboveground storage tank for purposes of IC 13-23-13,
or a petroleum facility for purposes of IC 13-24-1 through any of the
following:
(1) If the vessel or facility, underground storage tank or
aboveground storage tank, or petroleum facility was security for
an extension of credit previously contracted:
(A) purchase at sale under a judgment or decree, power of sale,
or nonjudicial foreclosure;
(B) a deed in lieu of foreclosure or a similar conveyance from
a trustee; or
(C) repossession.
(2) Conveyance under an extension of credit previously
contracted, including the termination of a lease agreement.
(3) Any other formal or informal manner by which the person
acquires, for subsequent disposition, title to or possession of a
vessel or facility, underground storage tank or aboveground
storage tank, or petroleum facility in order to protect the security
interest of the person.