24-5-23.5-1. “Appraisal”
Sec. 1. (a) As used in this chapter, “appraisal” means an estimation that: (1) represents the final opinion of the value of real property that is the subject of a real estate transaction; and (2) serves as the basis for the extension of credit, in the case of a real estate transaction involving the making, […]
24-5-23.5-2. “Appraisal Company”
Sec. 2. As used in this chapter, “appraisal company” means a sole proprietorship, firm, corporation, partnership, limited liability company, limited liability partnership, joint venture, trust, or other business unit or association that: (1) performs appraisals on a regular basis for compensation through one (1) or more owners, officers, employees, or agents; or (2) holds itself […]
24-5-23.5-3. “Creditor”
Sec. 3. (a) As used in this chapter, “creditor” means a person: (1) that regularly engages in Indiana in the extension of mortgage loans that are subject to a credit service charge or loan finance charge, as applicable, or are payable by written agreement in more than four (4) installments (not including a down payment); […]
24-5-23.5-3.7. “Land Contract”
Sec. 3.7. As used in this chapter, “land contract” means a contract for the sale of real estate in which the seller of the real estate retains legal title to the real estate until the total contract price is paid by the buyer. As added by P.L.89-2011, SEC.20.
24-5-23.6-1. “Creditor”
Sec. 1. (a) As used in this chapter, “creditor” means: (1) a person: (A) that engages in Indiana in the extension of mortgages that are subject to a credit service charge or loan finance charge, as applicable, or are payable by written agreement in more than four (4) installments (not including a down payment); and […]
24-5-23-1. “Mortgage Lender”
Sec. 1. As used in this chapter, “mortgage lender” means the original lender under a mortgage and the original lender’s successors and assigns, including insurance companies, trust companies, banks, investment companies, savings banks, savings associations, credit unions, executors, trustees, and other fiduciaries, or any other mortgagee authorized to do business in this state. As added […]
24-5-23.5-4. “Mortgage Loan”
Sec. 4. (a) As used in this chapter, “mortgage loan” means a loan in which a mortgage (or another equivalent consensual security interest) that constitutes a lien is created or retained against an interest in real property in Indiana. (b) The term includes the following: (1) A home loan subject to IC 24-9. (2) A […]
24-5-23.6-2. “Debtor”
Sec. 2. (a) As used in this chapter, “debtor”, with respect to a mortgage, refers to the maker of the note secured by the mortgage. (b) The term includes a prospective debtor with respect to a mortgage for which a closing has not occurred. As added by P.L.115-2010, SEC.20.
24-5-23-2. Marketing Materials and Solicitations; Use of Name of Existing Mortgage Lender Prohibited; Permissible Uses and References; Remedies
Sec. 2. (a) Except as provided in subsection (b), a person, firm, limited liability company, or corporation may not use the name of an existing mortgage lender or a name confusingly similar to that of an existing mortgage lender when marketing to or soliciting business from a customer or prospective customer if the reference to […]
24-5-23.5-5. “Real Estate Appraiser”
Sec. 5. As used in this chapter, “real estate appraiser” means a person who prepares the appraisal for a real estate transaction in Indiana, regardless of whether the person is licensed or certified, or required to be licensed or certified, under the real estate appraiser licensure and certification program established under IC 25-34.1-3-8. As added […]