Indiana Eliminates Provisions Binding Interested Parties Not Named In Foreclosure Actions

more+
less-
more+
less-

On May 7, Indiana enacted SB 279 to (i) eliminate a provision in current law that binds certain omitted parties (i.e., parties who have an interest in the property subject to a mortgage foreclosure action, but are not named in the foreclosure action) by the court’s judgment in a foreclosure action as if they had been parties to the foreclosure action, and (ii) limit the post-sale redemption rights of certain omitted parties. The changes become effective July 1, 2013.

Topics:  Foreclosure, New Legislation

Published In: Civil Procedure Updates, General Business Updates, Finance & Banking Updates, Residential Real Estate Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© BuckleySandler LLP | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »