§ 32-25-4-1 — Fee simple title; conveyance and encumbrance of condominiums

Indiana § 32-25-4-1

• Jurisdiction: Indiana
• Title 32: PROPERTY
• Art. 25: CONDOMINIUMS
• Ch. 4: Ownership Interest in Condominiums

Text

(a) If property is submitted to the
condominium, each condominium unit owner is seized of:
(1) the fee simple title to;
(2) the exclusive ownership of; and
(3) the exclusive possession of;
the owner's condominium unit and undivided interest in the common
areas and facilities.
(b) A condominium unit may be:
(1) individually conveyed;
(2) individually encumbered; and
(3) the subject of:
(A) ownership;
(B) possession;
(C) sale; and
(D) all types of juridic acts inter vivos or causa mortis;
as if the condominium unit were sole and entirely independent of
the other condominium units in the building of which the
condominium unit forms a part.
(c) Individual titles and interests with respect to condominium units
are recordable.
[Pre-2002 Recodification Citation: 32-1-6-5.]

Legislative History

As added by P.L.2-2002, SEC.10.