Section 32-25-4-1 - Fee simple title; conveyance and encumbrance of condominiums(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: (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.
As added by P.L. 2-2002, SEC.10.