Sec. 1. (a) Except as otherwise provided in this chapter, this chapter does not apply to a residential real estate service agreement entered into before March 15, 2024.

contract signature

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Terms Used In Indiana Code 32-28-15-1

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Attorney: includes a counselor or other person authorized to appear and represent a party in an action or special proceeding. See Indiana Code 1-1-4-5
  • Contract: A legal written agreement that becomes binding when signed.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
  • residential real estate: means real property:

    Indiana Code 32-28-15-4

     (b) This chapter does not apply to any of the following:

(1) A home warranty or similar product that covers the cost of maintenance of a major home system, such as:

(A) a plumbing system;

(B) a heating, cooling, and ventilation system; or

(C) electrical wiring;

for a fixed period.

(2) An insurance contract.

(3) An option to purchase residential real estate or a right of refusal to purchase residential real estate.

(4) A declaration that is created in the formation of:

(A) an association of co-owners (as defined in IC 32-25-2-2) for a condominium (as defined in IC 32-25-2-7); or

(B) a homeowners association (as defined in IC 32-25.5-2-4);

including any amendment to the declaration.

(5) A maintenance or repair agreement entered into by:

(A) an association of co-owners (as defined in IC 32-25-2-2) for a condominium (as defined in IC 32-25-2-7); or

(B) a homeowners association (as defined in IC 32-25.5-2-4).

(6) A mortgage loan or a commitment to make or receive a mortgage loan.

(7) A security agreement under IC 26-1 concerning the sale or rental of personal property or fixtures.

(8) Providers of:

(A) utility services, including water, sewer, gas, or electric service; or

(B) communications service (as defined in IC 8-1-32.5-3).

(9) A land contract (as defined in IC 24-9-2-9.5).

(10) An attorney‘s lien authorized by IC 33-43-4.

(11) A statutory lien authorized by this article, including:

(A) the lien of a broker company (as defined in IC 32-28-12.5-0.5) upon commercial real estate under IC 32-28-12.5-5; or

(B) a mechanic’s or materialman’s lien under IC 32-28-3.

As added by P.L.62-2024, SEC.1.

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