CHAPTER 1. FEE SIMPLE INTEREST

IC 32-17

    ARTICLE 17. INTERESTS IN PROPERTY



IC 32-17-1

    

Chapter 1. Fee Simple Interest

IC 32-17-1-1

"Grantor"

    

Sec. 1. As used in this chapter, "grantor" means every person by
whom an estate or interest in land is:

        (1) created;

        (2) granted;

        (3) bargained;

        (4) sold;

        (5) conveyed;

        (6) transferred; or

        (7) assigned.

As added by P.L.2-2002, SEC.2.

IC 32-17-1-2

Fee simple conveyance

    

Sec. 2. (a) A conveyance of land that is:

        (1) worded in substance as "A.B. conveys and warrants to C.D."
(insert a description of the premises) "for the sum of" (insert the
consideration); and

        (2) dated and signed, sealed, and acknowledged by the grantor;

is a conveyance in fee simple to the grantee and the grantee's heirs
and assigns with a covenant as described in subsection (b).

    (b) A conveyance in fee simple under subsection (a) includes a
covenant from the grantor for the grantor and the grantor's heirs and
personal representatives that the grantor:

        (1) is lawfully seized of the premises;

        (2) has good right to convey the premises;

        (3) guarantees the quiet possession of the premises;

        (4) guarantees that the premises are free from all encumbrances;
and

        (5) will warrant and defend the title to the premises against all
lawful claims.

As added by P.L.2-2002, SEC.2.

IC 32-17-1-3

Estates tail; abolition

    

Sec. 3. (a) Estates tail are abolished.

    (b) An estate that under common law is a fee tail:

        (1) is considered a fee simple; and

        (2) if the estate is not limited by a valid remainder, is
considered a fee simple absolute.

As added by P.L.2-2002, SEC.2.

IC 32-17-1-4

Lineal and collateral warranties; abolition

    

Sec. 4. Lineal and collateral warranties with all their incidents are
abolished. However, the heirs and devisees of a person who has
made a covenant or agreement is answerable upon that covenant or
agreement:

        (1) to the extent of property descended or devised to the heirs
and devisees; and

        (2) in the manner prescribed by law.

As added by P.L.2-2002, SEC.2.