Sec. 1. (a) If property is submitted to the condominium, each condominium unit owner is seized of:

(1) the fee simple title to;

Terms Used In Indiana Code 32-25-4-1

  • Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
  • Inter vivos: Transfer of property from one living person to another living person.
  • Property: includes personal and real property. See Indiana Code 1-1-4-5
(2) the exclusive ownership of; and

(3) the exclusive possession of;

the owner’s condominium unit and undivided interest in the common areas and facilities.

     (b) A condominium unit may be:

(1) individually conveyed;

(2) individually encumbered; and

(3) the subject of:

(A) ownership;

(B) possession;

(C) sale; and

(D) all types of juridic acts inter vivos or causa mortis;

as if the condominium unit were sole and entirely independent of the other condominium units in the building of which the condominium unit forms a part.

     (c) Individual titles and interests with respect to condominium units are recordable.

[Pre-2002 Recodification Citation: 32-1-6-5.]

As added by P.L.2-2002, SEC.10.