§ 24-4.4-1-201 — Application; nonresident debtor

Indiana § 24-4.4-1-201

• Jurisdiction: Indiana
• Art. 4.4: FIRST LIEN MORTGAGE LENDING
• Ch. 1: General Provisions and Definitions

Text

(1) Except as provided in subsection (2),
this article applies to a first lien mortgage transaction:
(a) that is secured by an interest in:
(i) a dwelling; or
(ii) residential real estate upon which a dwelling is constructed
or intended to be constructed;
in Indiana; and
(b) the closing for which takes place after December 31, 2008.
(2) This article does not apply to a first lien mortgage transaction if:
(a) the debtor is not a resident of Indiana at the time the
transaction is entered into; and
(b) the laws of the debtor's state of residence require that the
transaction be made under the laws of the state of the debtor's
residence.

Legislative History

As added by P.L.145-2008, SEC.20. Amended by P.L.1-2009, SEC.134; P.L.89-2011, SEC.2.