Title 32, PROPERTY

Sec. 12. A notice of lien recorded under this chapter must: (1) state: (A) the name of the claimant; (B) the name of the owner of the commercial real estate upon which the lien is claimed; (C) a legal description of the commercial real estate upon which the lien is claimed; (D) t…

Sec. 13. (a) If: (1) a memorandum of lien or notice of lien has been recorded with the office of the recorder of the appropriate county; and (2) a condition occurs that would preclude the broker company from receiving fees or commissions under the terms of the written agreement, …

Sec. 14. If the broker company and the party from whom fees or commissions are claimed under this chapter agree to alternative dispute resolution, any claim under this chapter must be heard and resolved in the forum agreed to by the parties. The court before which a lien foreclos…

Sec. 15. The cost of proceedings brought under this chapter, including reasonable attorney's fees, costs, and prejudgment interest due to the prevailing party, shall be borne by the nonprevailing party. If more than one (1) party is responsible for costs, fees, and prejudgment in…

Sec. 16. Except for a waiver or release of a memorandum or lien provided in consideration of payment of the fees or commissions claimed by a broker company under this chapter, or except as otherwise provided in section 13 of this chapter, any waiver of a broker company's right to…

Sec. 17. Valid recorded liens, mortgages, and other encumbrances that are recorded before a principal broker's notice of lien under this chapter have priority over a principal broker's lien under this chapter. Prior recorded liens, mortgages, and encumbrances that have priority u…

Sec. 18. If: (1) a claim for a lien under this chapter has been filed with the office of the recorder of the county in which commercial real estate or any interest in commercial real estate is located; and (2) an escrow account is established among: (A) the one (1) or more partie…

closing; civil action; damages; defenses Sec. 19. (a) If any party, including a broker company, buyer, or buyer's mortgagee suffers a pecuniary loss as the result of an owner's violation of the notice or certification provisions described in section 7 of this chapter, the party m…

Sec. 2. As used in this chapter, "fees or commissions" means compensation owed to a broker company for performing services requiring a license under IC 25-34.1-3-2. As added by P.L.78-2006, SEC.1. Amended by P.L.127-2012, SEC.49; P.L.116-2015, SEC.23.

Sec. 3. As used in this chapter, "managing broker" has the meaning set forth in IC 25-34.1-1-2. As added by P.L.78-2006, SEC.1. Amended by P.L.127-2012, SEC.50.

Sec. 4. As used in this chapter, "real estate" has the meaning set forth in IC 25-34.1-1-2. As added by P.L.78-2006, SEC.1.

Sec. 5. A broker company may have a lien upon commercial real estate, or any interest in commercial real estate, that is the subject of a purchase, a lease, or other conveyance to a buyer or tenant, in the amount that the broker company is due for licensed services, including bro…

Sec. 6. (a) A lien under this chapter attaches to commercial real estate or an interest in commercial real estate upon: (1) the broker company being entitled to fees or commissions under a written agreement, a contract, or another instrument signed by the owner, buyer, or tenant …

Sec. 7. (a) This section does not apply: (1) to fees or commissions that arise from a lease, including fees or commissions for a sale of the property, lease expansions, or lease renewals; (2) if a broker company's fees or commissions have been paid in full; or (3) if a broker com…

Sec. 8. (a) This section applies to a transaction involving the conveyance or transfer of commercial real estate in which: (1) payment to a broker company is due in installments; and (2) a part of the installment payments is due only after the conveyance or transfer of the commer…

Sec. 9. (a) Subject to subsection (b), in the case of a lease of commercial real estate, including a sublease or an assignment of a lease, the notice of a lien under this chapter must be recorded not later than ninety (90) days after the tenant takes possession of the leased prem…