§ 32-28-12.5-5 — Broker company lien on commercial real estate; fees due under written agreement, contract, or instrument

Indiana § 32-28-12.5-5

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

Text

A broker company may have a lien upon
commercial real estate, or any interest in commercial real estate, that
is the subject of a purchase, a lease, or other conveyance to a buyer or
tenant, in the amount that the broker company is due for licensed
services, including brokerage fees, consulting fees, and management
fees due the broker company under a written agreement, a contract, or
another written instrument:
(1) signed by:
(A) the owner of an interest in the commercial real estate or by
the owner's authorized agent; or
(B) a prospective buyer or prospective tenant, or by the buyer's
or tenant's authorized agent; and
(2) entered into after June 30, 2006.
A lien under this chapter is available to the broker company named in
the written agreement, contract, or other written instrument signed by
the owner, buyer, or tenant, or their respective agents, and not to an
employee or independent contractor of the broker company.

Legislative History

As added by P.L.78-2006, SEC.1. Amended by P.L.127-2012, SEC.51; P.L.116-2015, SEC.24.