Ind. Code § 32-30-10.5-5

Current through P.L. 171-2024

Section 32-30-10.5-5 - "Mortgage"

(a) As used in this chapter, "mortgage" means:

(1) a loan; or

(2) a consumer credit sale;

that is or will be used by the debtor primarily for personal, family, or household purposes and that is secured by a mortgage (or another equivalent consensual security interest) that constitutes a first lien on a dwelling or on residential real estate upon which a dwelling is constructed or intended to be constructed.

(b) The term does not include a land contract (as defined in IC 24-4.4-1-301(36)) or similar agreement in which the debtor does not possess a deed.

IC 32-30-10.5-5

Amended by P.L. 6-2012, SEC. 211, eff. 2/22/2012.

Amended by P.L. 170-2011, SEC. 7, eff. 7/1/2011.

Amended by P.L. 89-2011, SEC. 76, eff. 4/28/2011.

As added by P.L. 105-2009, SEC.20.