IC 32-21-4
Chapter 4. Priority of Recorded Transactions
IC 32-21-4-1 Recording in county where land situated; priority based on time of
filing
Sec. 1. (a) The following must be recorded in the recorder's office
of the county where the land is situated:
(1) A conveyance or mortgage of land or of any interest in land.
(2) A lease for more than three (3) years.
(b) A conveyance, mortgage, or lease takes priority according to
the time of its filing. The conveyance, mortgage, or lease is
fraudulent and void as against any subsequent purchaser, lessee, or
mortgagee in good faith and for a valuable consideration if the
purchaser's, lessee's, or mortgagee's deed, mortgage, or lease is first
recorded.
(c) This subsection applies only to a mortgage. This subsection
applies regardless of when a mortgage was recorded. If:
(1) an instrument referred to in subsection (a) is recorded; and
(2) the instrument does not comply with the:
(A) requirements of:
(i) IC 32-21-2-3; or
(ii) IC 32-21-2-7; or
(B) technical requirements of IC 36-2-11-16(c);
the instrument is validly recorded and provides constructive notice
of the contents of the instrument as of the date of filing. As added by P.L.2-2002, SEC.6. Amended by P.L.1-2003, SEC.81;
P.L.135-2007, SEC.2; P.L.129-2008, SEC.1.
IC 32-21-4-2 Assignment, mortgage, or pledge of rents and profits as security;
recording; immediate perfection
Sec. 2. (a) This section applies to an instrument regardless of
when the instrument was recorded, except that this section does not
divest rights that vested before May 1, 1993.
(b) An assignment, a mortgage, or a pledge of rents and profits
arising from real estate that is intended as security, whether
contained in a separate instrument or otherwise, must be recorded
under section 1 of this chapter.
(c) When an assignment, a mortgage, or a pledge of rents and
profits is recorded under subsection (b), the security interest of the
assignee, mortgagee, or pledgee is immediately perfected as to the
assignor, mortgagor, pledgor, and any third parties:
(1) regardless of whether the assignment, mortgage, or pledge
is operative:
(A) immediately;
(B) upon the occurrence of a default; or
(C) under any other circumstances; and
(2) without the holder of the security interest taking any further
action.
(d) This section does not apply to security interests in:
(1) farm products;
(2) accounts or general intangibles arising from or relating to
the sale of farm products by a farmer;
(3) timber to be cut; or
(4) minerals or the like (including oil and gas);
that may be perfected under IC 26-1-9.1. As added by P.L.2-2002, SEC.6.
IC 32-21-4-3 Instrument of defeasance
Sec. 3. (a) This section applies when a deed:
(1) purports to contain an absolute conveyance of any estate in
land; and
(2) is made or intended to be made defeasible by:
(A) a deed of defeasance;
(B) a bond; or
(C) another instrument.
(b) The original conveyance is not defeated or affected against
any person other than the maker of the defeasance, the heirs or
devisees of the maker of the defeasance, or persons having actual
notice of the defeasance unless the instrument of defeasance is:
(1) a deed of defeasance or bond that is recorded in the manner
provided by law within ninety (90) days after the date of the
deed; or
(2) another instrument that:
(A) is in a form required by the deed;
(B) contains an accurate legal description of the estate in
land;
(C) is dated;
(D) has been acknowledged before a notary public;
(E) has been made for consideration; and
(F) is recorded in the manner provided by law within ninety
(90) days after the date of the deed. As added by P.L.2-2002, SEC.6. Amended by P.L.1-2003, SEC.82;
P.L.156-2005, SEC.1.
IC 32-21-4
Chapter 4. Priority of Recorded Transactions
IC 32-21-4-1 Recording in county where land situated; priority based on time of
filing
Sec. 1. (a) The following must be recorded in the recorder's office
of the county where the land is situated:
(1) A conveyance or mortgage of land or of any interest in land.
(2) A lease for more than three (3) years.
(b) A conveyance, mortgage, or lease takes priority according to
the time of its filing. The conveyance, mortgage, or lease is
fraudulent and void as against any subsequent purchaser, lessee, or
mortgagee in good faith and for a valuable consideration if the
purchaser's, lessee's, or mortgagee's deed, mortgage, or lease is first
recorded.
(c) This subsection applies only to a mortgage. This subsection
applies regardless of when a mortgage was recorded. If:
(1) an instrument referred to in subsection (a) is recorded; and
(2) the instrument does not comply with the:
(A) requirements of:
(i) IC 32-21-2-3; or
(ii) IC 32-21-2-7; or
(B) technical requirements of IC 36-2-11-16(c);
the instrument is validly recorded and provides constructive notice
of the contents of the instrument as of the date of filing. As added by P.L.2-2002, SEC.6. Amended by P.L.1-2003, SEC.81;
P.L.135-2007, SEC.2; P.L.129-2008, SEC.1.
IC 32-21-4-2 Assignment, mortgage, or pledge of rents and profits as security;
recording; immediate perfection
Sec. 2. (a) This section applies to an instrument regardless of
when the instrument was recorded, except that this section does not
divest rights that vested before May 1, 1993.
(b) An assignment, a mortgage, or a pledge of rents and profits
arising from real estate that is intended as security, whether
contained in a separate instrument or otherwise, must be recorded
under section 1 of this chapter.
(c) When an assignment, a mortgage, or a pledge of rents and
profits is recorded under subsection (b), the security interest of the
assignee, mortgagee, or pledgee is immediately perfected as to the
assignor, mortgagor, pledgor, and any third parties:
(1) regardless of whether the assignment, mortgage, or pledge
is operative:
(A) immediately;
(B) upon the occurrence of a default; or
(C) under any other circumstances; and
(2) without the holder of the security interest taking any further
action.
(d) This section does not apply to security interests in:
(1) farm products;
(2) accounts or general intangibles arising from or relating to
the sale of farm products by a farmer;
(3) timber to be cut; or
(4) minerals or the like (including oil and gas);
that may be perfected under IC 26-1-9.1. As added by P.L.2-2002, SEC.6.
IC 32-21-4-3 Instrument of defeasance
Sec. 3. (a) This section applies when a deed:
(1) purports to contain an absolute conveyance of any estate in
land; and
(2) is made or intended to be made defeasible by:
(A) a deed of defeasance;
(B) a bond; or
(C) another instrument.
(b) The original conveyance is not defeated or affected against
any person other than the maker of the defeasance, the heirs or
devisees of the maker of the defeasance, or persons having actual
notice of the defeasance unless the instrument of defeasance is:
(1) a deed of defeasance or bond that is recorded in the manner
provided by law within ninety (90) days after the date of the
deed; or
(2) another instrument that:
(A) is in a form required by the deed;
(B) contains an accurate legal description of the estate in
land;
(C) is dated;
(D) has been acknowledged before a notary public;
(E) has been made for consideration; and
(F) is recorded in the manner provided by law within ninety
(90) days after the date of the deed. As added by P.L.2-2002, SEC.6. Amended by P.L.1-2003, SEC.82;
P.L.156-2005, SEC.1.
IC 32-21-4
Chapter 4. Priority of Recorded Transactions
IC 32-21-4-1 Recording in county where land situated; priority based on time of
filing
Sec. 1. (a) The following must be recorded in the recorder's office
of the county where the land is situated:
(1) A conveyance or mortgage of land or of any interest in land.
(2) A lease for more than three (3) years.
(b) A conveyance, mortgage, or lease takes priority according to
the time of its filing. The conveyance, mortgage, or lease is
fraudulent and void as against any subsequent purchaser, lessee, or
mortgagee in good faith and for a valuable consideration if the
purchaser's, lessee's, or mortgagee's deed, mortgage, or lease is first
recorded.
(c) This subsection applies only to a mortgage. This subsection
applies regardless of when a mortgage was recorded. If:
(1) an instrument referred to in subsection (a) is recorded; and
(2) the instrument does not comply with the:
(A) requirements of:
(i) IC 32-21-2-3; or
(ii) IC 32-21-2-7; or
(B) technical requirements of IC 36-2-11-16(c);
the instrument is validly recorded and provides constructive notice
of the contents of the instrument as of the date of filing. As added by P.L.2-2002, SEC.6. Amended by P.L.1-2003, SEC.81;
P.L.135-2007, SEC.2; P.L.129-2008, SEC.1.
IC 32-21-4-2 Assignment, mortgage, or pledge of rents and profits as security;
recording; immediate perfection
Sec. 2. (a) This section applies to an instrument regardless of
when the instrument was recorded, except that this section does not
divest rights that vested before May 1, 1993.
(b) An assignment, a mortgage, or a pledge of rents and profits
arising from real estate that is intended as security, whether
contained in a separate instrument or otherwise, must be recorded
under section 1 of this chapter.
(c) When an assignment, a mortgage, or a pledge of rents and
profits is recorded under subsection (b), the security interest of the
assignee, mortgagee, or pledgee is immediately perfected as to the
assignor, mortgagor, pledgor, and any third parties:
(1) regardless of whether the assignment, mortgage, or pledge
is operative:
(A) immediately;
(B) upon the occurrence of a default; or
(C) under any other circumstances; and
(2) without the holder of the security interest taking any further
action.
(d) This section does not apply to security interests in:
(1) farm products;
(2) accounts or general intangibles arising from or relating to
the sale of farm products by a farmer;
(3) timber to be cut; or
(4) minerals or the like (including oil and gas);
that may be perfected under IC 26-1-9.1. As added by P.L.2-2002, SEC.6.
IC 32-21-4-3 Instrument of defeasance
Sec. 3. (a) This section applies when a deed:
(1) purports to contain an absolute conveyance of any estate in
land; and
(2) is made or intended to be made defeasible by:
(A) a deed of defeasance;
(B) a bond; or
(C) another instrument.
(b) The original conveyance is not defeated or affected against
any person other than the maker of the defeasance, the heirs or
devisees of the maker of the defeasance, or persons having actual
notice of the defeasance unless the instrument of defeasance is:
(1) a deed of defeasance or bond that is recorded in the manner
provided by law within ninety (90) days after the date of the
deed; or
(2) another instrument that:
(A) is in a form required by the deed;
(B) contains an accurate legal description of the estate in
land;
(C) is dated;
(D) has been acknowledged before a notary public;
(E) has been made for consideration; and
(F) is recorded in the manner provided by law within ninety
(90) days after the date of the deed. As added by P.L.2-2002, SEC.6. Amended by P.L.1-2003, SEC.82;
P.L.156-2005, SEC.1.
