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Indiana Code Title 24. Trade Regulation § 24-5.5-5-5

Current as of January 02, 2024 | Updated by Findlaw Staff

Sec. 5. A foreclosure purchaser may not:

(1) enter into repurchase or lease terms as part of the foreclosure reconveyance that are unfair or commercially unreasonable or engage in any other unfair conduct;

(2) represent, directly or indirectly, that the:

(A) foreclosure purchaser is acting:

(i) as an adviser or a consultant;  or

(ii) in any other manner on behalf of the homeowner;

(B) foreclosure purchaser is assisting the homeowner to save the residence;  or

(C) foreclosure purchaser is assisting the homeowner in preventing a foreclosure if the result of the transaction is that the homeowner will not complete a redemption of the property;  or

(3) until the homeowner's right to rescind or cancel the foreclosure reconveyance agreement has expired:

(A) record any document, including an instrument or conveyance, signed by the homeowner;  or

(B) transfer to a third party or encumber, or purport to transfer to a third party or encumber, any interest in the residential real property in foreclosure.

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Cite this article: FindLaw.com - Indiana Code Title 24. Trade Regulation § 24-5.5-5-5 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-24-trade-regulation/in-code-sect-24-5-5-5-5/

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