§ 32-21-5-1 Applicability of chapter
§ 32-21-5-2 “Buyer” defined
§ 32-21-5-3 “Closing” defined
§ 32-21-5-4 “Defect” defined
§ 32-21-5-5 “Disclosure form” defined
§ 32-21-5-6 “Owner” defined
§ 32-21-5-7 Disclosure form; contents
§ 32-21-5-8 Owner prepared disclosure form
§ 32-21-5-8.5 Disclosures relating to property covered by governing documents of homeowners association
§ 32-21-5-9 Disclosure form distinguished from warranty
§ 32-21-5-10 Disclosure form; presentation required before acceptance of offer
§ 32-21-5-11 Owner liability for errors in form
§ 32-21-5-12 Matters arising after form delivered; requirement to disclose at settlement; unknown or unavailable information
§ 32-21-5-13 Disclosure of defect after offer accepted; buyer’s right to nullify contract; return of deposits
contract signature

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Terms Used In Indiana Code > Title 32 > Article 21 > Chapter 5 - Residential Real Estate Sales Disclosure

  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • buyer: means a transferee in a transaction described in section 1 of this chapter. See Indiana Code 32-21-5-2
  • closing: means a transfer of an interest described in section 1 of this chapter by a deed, installment sales contract, or lease. See Indiana Code 32-21-5-3
  • Contract: A legal written agreement that becomes binding when signed.
  • Decedent: A deceased person.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • disclosure form: refers to a disclosure form prepared under section 8 of this chapter or a disclosure form that meets the requirements of section 8 of this chapter. See Indiana Code 32-21-5-5
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Fiduciary: A trustee, executor, or administrator.
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • 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.
  • Mortgagee: The person to whom property is mortgaged and who has loaned the money.
  • owner: means the owner of residential real estate that is for sale, exchange, lease with an option to buy, or sale under an installment contract. See Indiana Code 32-21-5-6
  • Property: includes personal and real property. See Indiana Code 1-1-4-5
  • Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • Trustee: A person or institution holding and administering property in trust.