Limitation of actions
Sec. 1. (a) A mortgage or vendor's lien upon real estate expires ten
(10) years after the last installment of the debt secured by the lien
becomes due, as shown by the record of the lien.
(b) An action may not be brought or maintained in the courts of
Indiana to foreclose a mortgage or enforce a vendor's lien reserved
by a grantor to secure the payment of an obligation secured by the
mortgage or lien if the last installment of the debt secured by the
mortgage or lien, as shown by the record of the mortgage or lien, has
been due more than ten (10) years. However, a lien or mortgage
described in this section that was created before September 1, 1982,
expires twenty (20) years after the time the last installment becomes
due, and an action may not be brought to foreclose the mortgage or
enforce the vendor's lien when the last installment has been due more
than twenty (20) years.
As added by P.L.2-2002, SEC.13.
Last modified: May 24, 2006