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

contract signature

Ask a real estate law question, get an answer ASAP!
Thousands of highly rated, verified real estate lawyers.
Specialties include: All Real Estate Law, Landlord and Tenant Law, Foreclosure, Homeowners' Association, Trespassing, Property Law, General Legal and more.
Click here to chat with a lawyer about your rights.

Terms Used In Indiana Code 32-28-12.5-13

  • Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
  • broker company: has the meaning set forth in Indiana Code 32-28-12.5-0.5
  • commercial real estate: means any real estate other than:

    Indiana Code 32-28-12.5-1

  • Contract: A legal written agreement that becomes binding when signed.
  • fees or commissions: means compensation owed to a broker company for performing services requiring a license under Indiana Code 32-28-12.5-2
  • in writing: include printing, lithographing, or other mode of representing words and letters. See Indiana Code 1-1-4-5
  • Lien: A claim against real or personal property in satisfaction of a debt.
(2) a condition occurs that would preclude the broker company from receiving fees or commissions under the terms of the written agreement, contract, or other written instrument upon which the lien is based;

the broker company shall provide to the owner of record of the commercial real estate, not later than ten (10) days after written demand by the owner of record, a written release or satisfaction of the memorandum of lien or notice of lien.

     (b) Upon written demand:

(1) served by the owner, buyer, or tenant described in section 5 of this chapter, or the authorized agent of the owner, buyer, or tenant described in section 5 of this chapter, on the broker company claiming a lien under this chapter; and

(2) requiring the broker company to:

(A) bring a suit to enforce the lien; or

(B) file an answer in a pending suit;

the broker company shall bring a suit or file an answer not later than thirty (30) days after service of the demand. If the broker company does not bring a suit or file an answer within the time prescribed by this subsection, the lien is extinguished. The service of a written demand under this subsection may be made by registered or certified mail, return receipt requested, or by personal service.

     (c) If:

(1) a memorandum of lien or notice of lien under this chapter has been filed with the office of the recorder and the fees or commissions upon which the lien is based have been paid to the broker company claiming the lien; or

(2) the broker company fails to institute a suit to enforce the lien within the time prescribed by this chapter;

the broker company shall, not later than five (5) days after receipt of a written demand from the owner, buyer, or tenant described in section 5 of this chapter for a release or an acknowledgment of satisfaction of the memorandum or lien, acknowledge satisfaction or release of the memorandum or lien in writing.

As added by P.L.78-2006, SEC.1. Amended by P.L.127-2012, SEC.59; P.L.116-2015, SEC.32.

  Previous section
Next section  
 Chapter 12.5 Contents