PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana Constitution) is being amended, the text of the existing provision will appear in this style type, additions will appear in this style type, and deletions will appear in this style type.
Additions: Whenever a new statutory provision is being enacted (or a new constitutional provision adopted), the text of the new provision will appear in this style type. Also, the word NEW will appear in that style type in the introductory clause of each SECTION that adds a new provision to the Indiana Code or the Indiana Constitution.
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     AN ACT to amend the Indiana Code concerning property.

SOURCE: IC 32-29-8-2; (13)SE0279.1.1. -->

    SECTION 1. IC 32-29-8-2, AS AMENDED BY P.L.130-2012, SECTION 5, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE JULY 1, 2013]: Sec. 2. A person who
        (1) is assigned a mortgage and fails to have the assignment properly placed on the mortgage record or
        (2) has an interest described in section 1 of this chapter and is not made a party to the foreclosure action as required by section 1 of this chapter;
is bound by the court's judgment or decree as if the person were a party to the suit.

SOURCE: IC 32-29-8-3; (13)SE0279.1.2. -->     SECTION 2. IC 32-29-8-3, AS AMENDED BY P.L.130-2012, SECTION 6, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE JULY 1, 2013]: Sec. 3. A person who:
        (1) purchases a mortgaged premises or any part of a mortgaged premises under the court's judgment or decree at a judicial sale or who claims title to the mortgaged premises under the judgment or decree; and
        (2) buys the mortgaged premises or any part of the mortgaged premises without actual notice of
            (A) an assignment that is not of record; or
            (B) the transfer of a note, the holder of which is not a party to the action;

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holds the premises free and discharged of the lien. However, any assignee or transferee may redeem the premises, like any other creditor, during the period of one (1) year after the sale or during another period ordered by the court in an action brought under section 4 of this chapter, but not exceeding ninety (90) days after the date of the court's decree in the action.

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SEA 279

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Figure
Graphic file number 0 named seal1001.pcx with height 58 p and width 72 p Left aligned

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