Sec. 5. A mortgage of land that is:

(1) worded in substance as “A.B. mortgages and warrants to C.D.” (here describe the premises) “to secure the repayment of” (here recite the sum for which the mortgage is granted, or the notes or other evidences of debt, or a description of the debt sought to be secured, and the date of the repayment); and

Ask a legal question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

Terms Used In Indiana Code 32-29-1-5

  • Grantor: The person who establishes a trust and places property into it.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
(2) dated and signed, sealed, and acknowledged by the grantor;

is a good and sufficient mortgage to the grantee and the grantee’s heirs, assigns, executors, and administrators, with warranty from the grantor (as defined in IC 32-17-1-1) and the grantor’s legal representatives of perfect title in the grantor and against all previous encumbrances. However, if in the mortgage form the words “and warrant” are omitted, the mortgage is good but without warranty.

[Pre-2002 Recodification Citation: 32-1-2-15.]

As added by P.L.2-2002, SEC.14.