Indiana Code > Title 32 > Article 25 > Chapter 8 – Administration of Condominiums
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Terms Used In Indiana Code > Title 32 > Article 25 > Chapter 8 - Administration of Condominiums
- 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.
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
- 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.
- Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
- Mortgagee: The person to whom property is mortgaged and who has loaned the money.
- Property: includes personal and real property. See Indiana Code 1-1-4-5
- Quorum: The number of legislators that must be present to do business.