§ 32-28-4-2 — Record silent as to due date of debt; date of execution omitted; expiration of lien; recorder's certification of satisfaction of mortgage or lien by lapse of time

Indiana § 32-28-4-2

• Jurisdiction: Indiana
• Title 32: PROPERTY
• Art. 28: LIENS ON REAL PROPERTY
• Ch. 4: Foreclosure and Expiration of a Mortgage or Vendor's

Text

(a) Except as provided in section 3 of this
chapter, if the record of a mortgage or vendor's lien described in section
1 of this chapter does not show when the debt or the last installment of
the debt secured by the mortgage or vendor's lien becomes due, the
following apply:
(1) If the mortgage or vendor's lien was created before July 1,
2012, the mortgage or vendor's lien expires twenty (20) years after
the date on which the mortgage or vendor's lien was executed
unless an action to foreclose is brought not later than twenty (20)
years after the date on which the mortgage or vendor's lien was
executed.
(2) If the mortgage or vendor's lien was created after June 30,
2012, the mortgage or vendor's lien expires ten (10) years after
the date on which the mortgage or vendor's lien was executed
unless an action to foreclose is brought not later than ten (10)
years after the date on which the mortgage or vendor's lien was
executed.
(b) If:
(1) the record of a mortgage or vendor's lien described in section
1 of this chapter does not show when the debt or the last
installment of the debt secured by the mortgage or vendor's lien
becomes due;
(2) the date of execution has been omitted in the mortgage or
vendor's lien; and
(3) the mortgage or vendor's lien was created before July 1, 2012;
the mortgage or vendor's lien expires twenty (20) years after the date
on which the mortgage or vendor's lien was recorded unless an action
to foreclose is brought not later than twenty (20) years after the date on
which the mortgage or vendor's lien was recorded.
(c) If:
(1) the record of a mortgage or vendor's lien described in section
1 of this chapter does not show when the debt or the last
installment of the debt secured by the mortgage or vendor's lien
becomes due;
(2) the date of execution has been omitted in the mortgage or
vendor's lien; and
(3) the mortgage or vendor's lien was created after June 30, 2012;
the mortgage or vendor's lien expires ten (10) years after the date on
which the mortgage or vendor's lien was recorded unless an action to
foreclose is brought not later than ten (10) years after the date on which
the mortgage or vendor's lien was recorded.
(d) Upon the request of the owner of record of real estate
encumbered by a mortgage or vendor's lien that has expired under this
section, the recorder of the county in which the real estate is situated
shall certify by cross reference to the record that the mortgage or
vendor's lien is fully paid and satisfied by lapse of time, and the real
estate is released from the mortgage or vendor's lien.
[Pre-2002 Recodification Citation: 32-8-4-2.]

Legislative History

As added by P.L.2-2002, SEC.13. Amended by P.L.130-2012, SEC.2; P.L.18-2013, SEC.2; P.L.196-2019, SEC.3.