IC 32-17-10
    Chapter 10. Limitations on Possibility of Reverter or Rights ofEntry for a Breach of a Condition Subsequent

IC 32-17-10-1
Application of chapter
    Sec. 1. This chapter does not apply to the following:
        (1) A conveyance made for the purpose of extinguishing apossibility of reverter or a right of entry.
        (2) The rights of:
            (A) a mortgagee based on the terms of the mortgage;
            (B) a trustee or beneficiary under a trust deed in the natureof a mortgage based on the terms of the trust deed;
            (C) a grantor under a vendor's lien reserved in a deed;
            (D) a lessor under a lease for a term of years; or
            (E) a person with a separate property interest in coal, oil,gas, or other minerals.
As added by P.L.2-2002, SEC.2.

IC 32-17-10-2
Duration of possibility of reverter or right of entry for breach ofcondition subsequent
    Sec. 2. A possibility of reverter or right of entry for breach of acondition subsequent concerning real property is invalid after thirty(30) years from the date the possibility of reverter or right of entry iscreated, notwithstanding a period of creation longer than thirty (30)years:
        (1) if the breach of the condition has not occurred; and
        (2) despite whether the possibility of reverter or right of entrywas created before, on, or after July 1, 1993.
As added by P.L.2-2002, SEC.2.

IC 32-17-10-3
Expired rights of action
    Sec. 3. A person may not commence an action for recovery of anypart of real property after June 30, 1994, based on a possibility ofreverter or right of entry for a breach of a condition subsequent if:
        (1) the breach of the condition occurred before July 1, 1993;and
        (2) the possibility of reverter or right of entry was createdbefore July 1, 1963.
As added by P.L.2-2002, SEC.2.