§ 32-28-12.5-19 — Owner not providing required notice or certification at closing; civil action; damages; defenses

Indiana § 32-28-12.5-19

• Jurisdiction: Indiana
• Title 32: PROPERTY
• Art. 28: LIENS ON REAL PROPERTY
• Ch. 12.5: Commercial Real Estate Broker Liens

Text

(a) If any party, including a broker
company, buyer, or buyer's mortgagee suffers a pecuniary loss as the
result of an owner's violation of the notice or certification provisions
described in section 7 of this chapter, the party may bring a civil action
against the owner for the following:
(1) Actual damages.
(2) The costs of the action.
(3) Reasonable attorney's fees.
However, if the party establishes that the owner's violation of the notice
or certification provisions was fraudulent, a court may award the party
damages that do not exceed three (3) times actual damages.
(b) It is a defense to an action brought under this section that the
most recent address provided by the broker company to the owner in
the agreement, contract, or other written instrument, including a written
instrument described in section 5 of this chapter, was incorrect, and as
a result of the incorrect address, the principal broker did not receive the
owner's notice described in section 7(b) of this chapter, and as a result
the broker company failed to provide the notice as required in section
7(c) of this chapter.

Legislative History

As added by P.L.78-2006, SEC.1. Amended by P.L.127-2012, SEC.63; P.L.116-2015, SEC.36.