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Current as of January 02, 2024 | Updated by Findlaw Staff
Sec. 4. (a) A transfer fee covenant recorded in Indiana after June 30, 2011:
(1) does not run with the title of the interest in real property the transfer fee covenant purports to affect; and
(2) is not binding or enforceable at law or in equity, as an equitable servitude or otherwise, against any subsequent owner, purchaser, or mortgagee of the interest in the real property the transfer fee covenant purports to affect.
(b) Any lien purporting to secure the payment of a transfer fee payable under a transfer fee covenant recorded in Indiana after June 30, 2011, is void and unenforceable.
(c) A:
(1) transfer fee covenant; or
(2) lien purporting to secure the payment of a transfer fee payable under a transfer fee covenant;
recorded in Indiana before July 1, 2011, is not presumed to be valid and enforceable.
Cite this article: FindLaw.com - Indiana Code Title 32. Property § 32-21-14-4 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-32-property/in-code-sect-32-21-14-4/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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