Indiana Code 8-3-8-2. Necessity for recordation
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Terms Used In Indiana Code 8-3-8-2
- 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
- Mortgagee: The person to whom property is mortgaged and who has loaned the money.
Sec. 2. Every such conveyance, lease, release, or other contract affecting any right of way of any railroad not so recorded in forty-five (45) days, as provided for in section 1 of this chapter, shall be void as against any subsequent purchaser, lessee, or mortgagee in good faith and for a valuable consideration.
Formerly: Acts 1893, c.152, s.2. As amended by P.L.62-1984, SEC.29.