Sec. 1. As used in this chapter, “commercial real estate” means any real estate other than:

(1) real estate containing one (1) to four (4) residential units;

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Terms Used In Indiana Code 32-28-12.5-1

(2) real estate on which no buildings or structures are located and that is zoned for single family residential use; or

(3) single family residential units such as:

(A) condominiums;

(B) townhouses; or

(C) homes in a subdivision when sold, leased, or otherwise conveyed on a unit-by-unit basis, even if those units are part of a larger building or parcel or real estate containing more than four (4) residential units.

As added by P.L.78-2006, SEC.1.

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