Application of chapter

Sec. 1. This chapter does not apply to the following: (1) A conveyance made for the purpose of extinguishing a possibility of reverter or a right of entry. (2) The rights of: (A) a mortgagee based on the terms of the mortgage; (B) a trustee or beneficiary under a trust deed in the nature of a mortgage based on the terms of the trust deed; (C) a grantor under a vendor's lien reserved in a deed; (D) a lessor under a lease for a term of years; or (E) a person with a separate property interest in coal, oil, gas, or other minerals. [Pre-2002 Recodification Citation: 32-1-21-1.] As added by P.L.2-2002, SEC.2.