Sec. 13. (a) If the consumer exercises the right to cancel under this chapter and has possession of the subject of the consumer transaction, the supplier may retake possession only:

(1) if the supplier has complied with section 12 of this chapter;

Terms Used In Indiana Code 24-5-10-13

  • consumer: means an individual who is the ultimate user of the subject of a consumer transaction. See Indiana Code 24-5-10-2
  • consumer transaction: means a sale, lease, assignment, award by chance, or other disposition of an item of personal property, real property, a service, or an intangible to an individual for purposes that are primarily personal, family, or household, or a solicitation to supply any of these things, with or without an extension of credit. See Indiana Code 24-5-10-3
  • Property: includes personal and real property. See Indiana Code 1-1-4-5
  • supplier: means a seller, lessor, assignor, or other person who engages in or solicits consumer transactions, including a manufacturer, wholesaler, or retailer, whether or not the supplier deals directly with the consumer. See Indiana Code 24-5-10-6
(2) if no more than ten (10) days have passed after compliance with section 12 of this chapter; and

(3) to the extent its return is feasible and can be done without causing damage to any other property of the consumer.

     (b) If the supplier fails to take possession of the property within twenty (20) days after receipt of the notice of cancellation, the supplier’s right to possession is forfeited.

As added by P.L.251-1987, SEC.2.

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