Indiana Code > Title 24 > Article 9 > Chapter 5 – Claims, Defenses, Remedies


§ 24-9-5-1	Purchaser or assignee subject to affirmative claims and defenses; claims available to borrower
§ 24-9-5-2	Acceleration; reinstatement of high cost home loan after cure of default
§ 24-9-5-3	Foreclosure proceedings
§ 24-9-5-4	Liability for violation; exceptions; damages; equitable relief; recoupment; action by homeowner protection unit for deceptive act; statute of limitations; priority of damages over civil penalties
§ 24-9-5-4.1	General assembly intent relating to certain amendments made to section 4 of this chapter
§ 24-9-5-5	Unintentional or erroneous violations; corrections by creditors
§ 24-9-5-6	Relation to other laws

Terms Used In Indiana Code > Title 24 > Article 9 > Chapter 5 - Claims, Defenses, Remedies

Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
Attorney: includes a counselor or other person authorized to appear and represent a party in an action or special proceeding. See Indiana Code 1-1-4-5
Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
Contract: A legal written agreement that becomes binding when signed.
Counterclaim: A claim that a defendant makes against a plaintiff.
Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
Property: includes personal and real property. See Indiana Code 1-1-4-5
Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
Right of rescission: Right to cancel, within three business days, a contract that uses the home of a person as collateral, except in the case of a first mortgage loan. There is no fee to the borrower, who receives a full refund of all fees paid. The right of rescission is guaranteed by the Truth in Lending Act (TILA). ^{Source: OCC}
Statute: A law passed by a legislature.
Truth in Lending Act: The Truth in Lending Act is a federal law that requires lenders to provide standardized information so that borrowers can compare loan terms. In general, lenders must provide information on ^{Source: OCC}