(630) 378-2200
·
mhedayat@mha-law.com
·
Mon - Fri 8:00am - 5:00pm
Request a Case Evaluation

Amendment to Indiana recording statute applied to all mortgages, whenever filed. IC 32-21-4- 2(c) amends the Indiana recording act so that mortgages with certain technical defects are still considered to provide constructive notice. The 7th Circuit Court of Appeals held that the amended statute applied to all mortgages regardless of when they had filed. The statute’s use of the phrase “is recorded” was ambiguous, the Court of Appeals found. Applying the statute retroactively would not upset vested substantive rights, as debtors did not have vested rights to the effect of technical defects at the time their mortgage was recorded. Importantly, the same legislative session enacted, within ten months, a subsequent amendment clarifying the subject amendment which stated that the subsection “applies regardless of when a mortgage was recorded.”

Posted via email from beyond bankruptcy

IL, IND, Middle class, ch 13, ch 7,cir 7, creditor, current affairs,current-events, default,foreclosure, individual, legislation,modification, mortgage, property,real property, secured, state court

Leave a Reply

Let us help you!

If you need any helps, please feel free to contact us. We will get back to you with 1 business day. Or if in hurry, just call us now.

Call : 630.378.2200

Request a Case Evaluation