Indiana Code > Title 32 > Article 29 > Chapter 6 – Mortgage Release by Title Insurance Companies
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Terms Used In Indiana Code > Title 32 > Article 29 > Chapter 6 - Mortgage Release by Title Insurance Companies
- 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
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
- 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.
- Grantor: The person who establishes a trust and places property into it.
- in writing: include printing, lithographing, or other mode of representing words and letters. See Indiana Code 1-1-4-5
- Lien: A claim against real or personal property in satisfaction of a debt.
- mortgage: means a mortgage or mortgage lien on an interest in real property in Indiana given to secure a loan in the original principal amount of not more than one million dollars ($1,000,000). See Indiana Code 32-29-6-1
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- mortgage servicer: means the last person to whom a mortgagor or the mortgagor's successor in interest has been instructed by a mortgagee to send payments on a loan secured by a mortgage. See Indiana Code 32-29-6-3
- mortgagee: means :
Indiana Code 32-29-6-2
- Mortgagee: The person to whom property is mortgaged and who has loaned the money.
- mortgagor: means the grantor of a mortgage. See Indiana Code 32-29-6-4
- Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
- payoff statement: means a statement of the amount of:
Indiana Code 32-29-6-5
- person: means an individual, a corporation, or any other legal entity. See Indiana Code 32-29-6-6
- Property: includes personal and real property. See Indiana Code 1-1-4-5
- record: means to record with the county recorder. See Indiana Code 32-29-6-7
- title insurance company: means a corporation or other business entity authorized and licensed to transact the business of insuring titles to interests in real property in Indiana under IC 27. See Indiana Code 32-29-6-8
- Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC