Sec. 18. "First lien mortgage transaction" means: (1) a consumer 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 a land contract (or another consensual security interest equivalent to a mortgage or a land contract) that constitutes a first lien on a dwelling or on residential real estate upon which a dwelling is constructed or intended to be constructed. [Pre-2026 Revision Citation: 24-4.4-1-301(14).]
As added by P.L.115-2026, SEC.97.