Sec. 5. A broker company may have a lien upon commercial real estate, or any interest in commercial real estate, that is the subject of a purchase, a lease, or other conveyance to a buyer or tenant, in the amount that the broker company is due for licensed services, including brokerage fees, consulting fees, and management fees due the broker company under a written agreement, a contract, or another written instrument:

(1) signed by:

contract signature

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Terms Used In Indiana Code 32-28-12.5-5

  • 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.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • real estate: has the meaning set forth in Indiana Code 32-28-12.5-4
(A) the owner of an interest in the commercial real estate or by the owner’s authorized agent; or

(B) a prospective buyer or prospective tenant, or by the buyer’s or tenant’s authorized agent; and

(2) entered into after June 30, 2006.

A lien under this chapter is available to the broker company named in the written agreement, contract, or other written instrument signed by the owner, buyer, or tenant, or their respective agents, and not to an employee or independent contractor of the broker company.

As added by P.L.78-2006, SEC.1. Amended by P.L.127-2012, SEC.51; P.L.116-2015, SEC.24.

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