Indiana § 27-7-3.7-9 Mortgage holder's right to receive proceeds from real estate transaction
through funds electronically transferred to specified account

Indiana Statutes

§ 27-7-3.7-9 — Mortgage holder's right to receive proceeds from real estate transaction through funds electronically transferred to specified account

Indiana § 27-7-3.7-9

Title 27INSURANCE

Art. 7SPECIAL TYPES OF INSURANCE

Ch. 3.7Escrow Transactions in Real Estate Transactions

This text of Indiana § 27-7-3.7-9 (Mortgage holder's right to receive proceeds from real estate transaction through funds electronically transferred to specified account) 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 § 27-7-3.7-9 (2026).

Text

If:

(1)the closing agent in a real estate transaction receives wired funds unconditionally held and irrevocably credited to the escrow account of the closing agent; and

(2)a holder of a mortgage lien encumbering real estate so requests, as part of written closing instructions or a written payoff statement in advance of closing; the holder of the mortgage lien is entitled to receive its proceeds from the real estate transaction through funds electronically transferred to an account specified by the holder of the mortgage lien.

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If:
(1) the closing agent in a real estate transaction receives wired
funds unconditionally held and irrevocably credited to the escrow
account of the closing agent; and
(2) a holder of a mortgage lien encumbering real estate so
requests, as part of written closing instructions or a written payoff
statement in advance of closing;
the holder of the mortgage lien is entitled to receive its proceeds from
the real estate transaction through funds electronically transferred to an
account specified by the holder of the mortgage lien.