§ 32-21-5-1 — Applicability of chapter

Indiana § 32-21-5-1

• Jurisdiction: Indiana
• Title 32: PROPERTY
• Art. 21: CONVEYANCE PROCEDURES FOR REAL
• Ch. 5: Residential Real Estate Sales Disclosure

Text

(a) This chapter applies only to a sale of, an
exchange of, an installment sales contract for, or a lease with option to
buy residential real estate that contains not more than four (4)
residential dwelling units.
(b) This chapter does not apply to the following:
(1) Transfers ordered by a court, including transfers:
(A) in the administration of an estate;
(B) by foreclosure sale;
(C) by a trustee in bankruptcy;
(D) by eminent domain;
(E) from a decree of specific performance;
(F) from a decree of divorce; or
(G) from a property settlement agreement.
(2) Transfers by a mortgagee who has acquired the real estate at
a sale conducted under a foreclosure decree or who has acquired
the real estate by a deed in lieu of foreclosure.
(3) Transfers by a fiduciary in the course of the administration of
the decedent's estate, guardianship, conservatorship, or trust.
(4) Transfers made from at least one (1) co-owner solely to at
least one (1) other co-owner.
(5) Transfers made solely to any combination of a spouse or an
individual in the lineal line of consanguinity of at least one (1) of
the transferors.
(6) Transfers made because of the record owner's failure to pay
any federal, state, or local taxes.
(7) Transfers to or from any governmental entity.
(8) Transfers involving the first sale of a dwelling that has not
been inhabited.
(9) Transfers to a living trust.
[Pre-2002 Recodification Citation: 24-4.6-2-1.]

Legislative History

As added by P.L.2-2002, SEC.6.