Indiana § 24-5-23.5-1 "Appraisal"

Indiana Statutes

§ 24-5-23.5-1 — "Appraisal"

Indiana § 24-5-23.5-1

Art. 5CONSUMER SALES

Ch. 23.5Real Estate Appraisals

This text of Indiana § 24-5-23.5-1 ("Appraisal") 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 § 24-5-23.5-1 (2026).

Text

(a)As used in this chapter, "appraisal" means an estimation that:

(1)represents the final opinion of the value of real property that is the subject of a real estate transaction; and

(2)serves as the basis for the extension of credit, in the case of a real estate transaction involving the making, refinancing, or consolidation of a mortgage loan.

(b)The term may include any of the following:

(1)The results of an automated valuation model.

(2)A broker's price opinion.

(3)A desktop evaluation.

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(a) As used in this chapter, "appraisal" means
an estimation that:
(1) represents the final opinion of the value of real property that
is the subject of a real estate transaction; and
(2) serves as the basis for the extension of credit, in the case of a
real estate transaction involving the making, refinancing, or
consolidation of a mortgage loan.
(b) The term may include any of the following:
(1) The results of an automated valuation model.
(2) A broker's price opinion.
(3) A desktop evaluation.