Title 32, PROPERTY

Sec. 5. The recodification act of the 2002 regular session of the general assembly shall be construed as a recodification of prior property law. Except as provided in section 2(1) and 2(2) of this chapter, if the literal meaning of the recodification act of the 2002 regular sessi…

Sec. 6. Subject to section 9 of this chapter, a reference in a statute or rule to a statute that is repealed and replaced in the same or a different form in the recodification act of the 2002 regular session of the general assembly shall be treated after the effective date of the…

Sec. 7. A citation reference in the recodification act of the 2002 regular session of the general assembly to another provision of the recodification act of the 2002 regular session of the general assembly shall be treated as including a reference to the provision of prior proper…

Sec. 8. (a) As used in the recodification act of the 2002 regular session of the general assembly, a reference to rules adopted under any provision of this title or under any other provision of the recodification act of the 2002 regular session of the general assembly refers to e…

Sec. 9. (a) A reference in the recodification act of the 2002 regular session of the general assembly to a citation in the prior property law before its repeal is added in certain sections of the recodification act of the 2002 regular session of the general assembly only as an ai…

Sec. 1. As used in this chapter, "grantor" means every person by whom an estate or interest in land is: (1) created; (2) granted; (3) bargained; (4) sold; (5) conveyed; (6) transferred; or (7) assigned. [Pre-2002 Recodification Citation: 32-1-2-30.] As added by P.L.2-2002, SEC.2.…

Sec. 2. (a) A conveyance of land that is: (1) worded in substance as "A.B. conveys and warrants to C.D." (insert a description of the premises) "for the sum of" (insert the consideration); and (2) dated and signed, sealed, and acknowledged by the grantor; is a conveyance in fee s…

Sec. 3. (a) Estates tail are abolished. (b) An estate that under common law is a fee tail: (1) is considered a fee simple; and (2) if the estate is not limited by a valid remainder, is considered a fee simple absolute. [Pre-2002 Recodification Citation: 32-1-2-33.] As added by P.…

Sec. 4. Lineal and collateral warranties with all their incidents are abolished. However, the heirs and devisees of a person who has made a covenant or agreement is answerable upon that covenant or agreement: (1) to the extent of property descended or devised to the heirs and dev…

Sec. 1. (a) A debtor who is in embarrassed or failing circumstances may make a general assignment of all the debtor's property in trust for the benefit of all the debtor's bona fide creditors. (b) Except as provided in this chapter, an assignment described in subsection (a) that …

Sec. 10. (a) The trustee, as soon as possible after an appraisement is filed, shall collect the rights and credits of the assignor. Except for property set off by the assignor as exempt, the trustee shall sell at public auction the appraised property after giving thirty (30) days…

Sec. 11. The trustee shall, within six (6) months after beginning the duties of the trust, report to the judge of the circuit court, superior court, or probate court, under oath: (1) the amount of money in the trustee's hands from: (A) the sale of property; and (B) collections; a…

Sec. 12. The clerk of the court shall spread the report and list upon the appearance docket of the court. The clerk shall distinguish between the claims the trustee has determined to allow and the claims the trustee has refused to allow. In all cases in which the trustee has refu…

Sec. 13. (a) A part of the property assigned on which there are liens or encumbrances may be sold by the trustee subject to the liens or encumbrances. (b) However, if the trustee is satisfied that the general fund would be materially increased by the payment of the liens or encum…

Sec. 14. If the court confirms the report made as provided under section 11 of this chapter and if no contested claims are standing on the docket as provided under section 12 of this chapter, the court shall order the trustee to pay all money in the trustee's hands to the clerk o…

Sec. 15. (a) If a creditor or the trustee, by verified petition, asks the court for the examination of the assignor or any person to whom any part of the person's property has been transferred within six (6) months before the assignment, the circuit or superior court may issue an…

Sec. 16. A person who files a claim with the trustee must make oath that the claim is just and lawful and no part of the claim is for usurious interest. If a claim or part of a claim is for usurious interest, it must be deducted from the claims before they are allowed. The truste…

Sec. 17. A trustee may compound or compromise a debt or claim belonging to the assignor that cannot be otherwise recovered without endangering the recovery of the claim or debt. [Pre-2002 Recodification Citation: 32-12-1-17.] As added by P.L.2-2002, SEC.3.

Sec. 18. (a) The trustee shall, at the expiration of one (1) year after entering upon the duties of the trust or at the next term of the court after the expiration of one (1) year after entering upon the duties of the trust, make a final report to the court. (b) After a hearing a…

Sec. 19. (a) The judge of the circuit court, superior court, or probate court may, upon the petition of a creditor or the assignor, remove a trustee under this chapter for good cause shown and appoint a successor. (b) If a vacancy occurs by death, resignation, or removal of a tru…

Sec. 2. (a) An assignment under this chapter must be: (1) by indenture; and (2) signed and acknowledged before a person who is authorized to take the acknowledgment of deeds. (b) The indenture must, within ten (10) days after the execution, be filed with the recorder of the count…

Sec. 20. This chapter may not be construed to prevent a party aggrieved by an order or decree of the court under this chapter from having an appeal as in other civil actions. [Pre-2002 Recodification Citation: 32-12-1-20.] As added by P.L.2-2002, SEC.3.

Sec. 21. (a) For whatever services the clerk of the circuit court is required to perform under this chapter, the clerk is allowed the same fees as are allowed the clerk by law for similar services in other civil proceedings. (b) The appraisers under this chapter are entitled to o…

Sec. 22. A surviving partner of a firm doing business in Indiana has full power to make assignments under this chapter. [Pre-2002 Recodification Citation: 32-12-2-1.] As added by P.L.2-2002, SEC.3. Amended by P.L.1-2003, SEC.80.

Sec. 3. (a) Not later than fifteen (15) days after the execution of the assignment, the trustee shall file a copy of the assignment and schedule in the office of the clerk of the circuit court of the county in which the debtor resides. The trustee shall state under oath, before e…

Sec. 4. The clerk of the circuit court shall minute the filing of the copy of indenture, schedule, and undertaking in the proper book under section 3 of this chapter. [Pre-2002 Recodification Citation: 32-12-1-4.] As added by P.L.2-2002, SEC.3.

Sec. 5. (a) If the trustee fails to comply with the provisions of sections 1 through 4 of this chapter, the judge of the circuit court, superior court, or probate court, or the clerk of the circuit court may, at the instance of the assignor or a creditor, by petition: (1) remove …

Sec. 6. (a) Immediately after complying with the requirements set forth in this chapter, the trustee shall give notice of the trustee's appointment by publication, three (3) weeks successively, in a newspaper printed and published in the county. If a newspaper is not printed and …

Sec. 7. The trustee, not more than twenty (20) days after filing the inventory mentioned in section 6 of this chapter, shall cause the property mentioned in the inventory to be appraised by two (2) reputable householders of the neighborhood. The appraisers, before proceeding to d…

Sec. 8. The appraisers shall, in the presence of the trustee: (1) appraise each article mentioned in the inventory at its true value; and (2) set down opposite each article respectively the value fixed by them in dollars and cents. [Pre-2002 Recodification Citation: 32-12-1-8.] A…

Sec. 9. (a) If the assignor is a resident householder of Indiana, the appraisers shall set off to the assignor articles of property or so much of the real estate mentioned in the inventory as the assignor may select, not to exceed three hundred dollars ($300). (b) The appraisers …

Sec. 1. The systems of plane coordinates that have been established by the National Ocean Survey/National Geodetic Survey (formerly the United States Coast and Geodetic Survey) or its successors for defining and stating the positions or locations of points on the surface of the e…

Sec. 2. (a) For the purpose of the use of the systems described in section 1 of this chapter, Indiana is divided into an east zone and a west zone. (b) The area included in the following counties constitutes the east zone: Adams Allen Bartholomew Blackford Brown Cass Clark Dearbo…

Sec. 3. (a) To more precisely describe the Indiana coordinate system of 1927, the following descriptions by the National Ocean Survey/National Geodetic Survey are adopted: (1) The "Indiana coordinate system of 1927, east zone" is a transverse Mercator projection of the Clarke sph…

Sec. 4. (a) As established for use in the east zone, the Indiana coordinate system of 1927 or the Indiana coordinate system of 1983: (1) shall be named; and (2) in any land description in which it is used, shall be designated the: (A) "Indiana coordinate system of 1927, east zone…

Sec. 5. If a tract of land to be defined by a single description extends from one (1) into the other of the east zone or the west zone: (1) the positions of all points on the boundaries of the tract may be referred to as either the east zone or the west zone; and (2) the zone tha…

Sec. 6. (a) The use of the term "Indiana coordinate system of 1927" or "Indiana coordinate system of 1983" on any map, report of survey, or other document shall be limited to coordinates based on the Indiana coordinate system described in this chapter. (b) Beginning January 1, 19…

Sec. 1. (a) This article shall be liberally construed to effect the legislative purpose of simplifying and facilitating land title transactions by allowing persons to rely on a record chain of title as described in IC 32-20-3-1, subject only to the limitations that are described …

Sec. 2. This article may not be construed to do the following: (1) Extend the period to bring an action or to do any other required act under any statutes of limitations. (2) Except as specifically provided in this article, affect the operation of any statutes governing the effec…

Sec. 1. (a) This section does not apply to a lease for a term of not more than three (3) years. (b) A person may not bring any of the following actions unless the promise, contract, or agreement on which the action is based, or a memorandum or note describing the promise, contrac…

Sec. 10. A contract for the payment of any sum of money or thing of value, as a commission or reward for the finding or procuring by one (1) person of a purchaser for the real estate of another, is not valid unless the contract is in writing and signed by the owner of the real es…

Sec. 13. (a) As used in subsection (b), "conveyance" means any electronic record (as defined in IC 26-2-8-102) or any paper or other tangible medium or document that is: (1) a lease or memorandum of lease for a term exceeding three (3) years; (2) a deed of: (A) land; or (B) any i…

Sec. 14. A conveyance of land by an attorney in fact under IC 30-5-3-3 is not effective unless the attorney in fact is empowered to make the conveyance under a power of attorney that: (1) is executed or signed by the principal (as defined in IC 30-5-2-8); and (2) has an acknowled…

Sec. 15. (a) A conveyance of land that is: (1) worded in substance as "A.B. quitclaims to C.D." (here describe the premises) "for the sum of" (here insert the consideration); and (2) signed, sealed, and acknowledged by the grantor (as defined in IC 32-17-1-1); is a good and suffi…

Sec. 16. It is not necessary to use the words "heirs and assigns of the grantee" to create in the grantee an estate of inheritance. If it is the intention of the grantor (as defined in IC 32-17-1-1) to convey any lesser estate, the grantor shall express that intention in the deed…

Sec. 17. A conveyance of land may incorporate by reference a recorded covenant, restriction, easement, or other encumbrance on the use of the land with a clause that is substantially similar to either of the following: (1) "Subject to the __________ (insert the type of encumbranc…