Indiana § 27-7-3-21 Requirement of title search

Indiana Statutes

§ 27-7-3-21 — Requirement of title search

Indiana·Title 27 INSURANCE·Art. 7 SPECIAL TYPES OF INSURANCE·Ch. 3 Abstract and Title Insurance

A company described in section 3 of this chapter that issues a title insurance policy shall perform or cause to be performed a title search for the real estate in conjunction with a mortgage secured by the real estate unless the mortgage meets all of the following requirements:

(1)The principal amount of the mortgage is not more than fifty thousand dollars ($50,000).

(2)The mortgage is subordinate to a prior mortgage where a title search was conducted and a title policy was issued.

(3)The mortgage is not a reverse mortgage.

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A company described in section 3 of this
chapter that issues a title insurance policy shall perform or cause to be
performed a title search for the real estate in conjunction with a
mortgage secured by the real estate unless the mortgage meets all of the
following requirements:
(1) The principal amount of the mortgage is not more than fifty
thousand dollars ($50,000).
(2) The mortgage is subordinate to a prior mortgage where a title
search was conducted and a title policy was issued.
(3) The mortgage is not a reverse mortgage.

Indiana § 27-7-3-21 (Requirement of title search) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.