Indiana Code 32-27-2-8.5. Model home warranty
Current as of: 2023 | Check for updates
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Sec. 8.5. (a) In selling a model home, the builder may warrant to the home buyer that during the ten (10) year period beginning on the warranty date the model home will be free from major structural defects.
(c) The home buyer who purchases the model home from the builder shall, in writing on or before the date of closing or transfer of the model home to a subsequent home buyer, notify the subsequent home buyer of:
(b) The warranty provided in this section survives the passing of legal or equitable title in the model home to a subsequent home buyer.
Terms Used In Indiana Code 32-27-2-8.5
- builder: means a person who constructs new homes for sale, including the construction of new homes on land owned by home buyers. See Indiana Code 32-27-2-6
- 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
- home buyer: means a purchaser of a new home or a model home. See Indiana Code 32-27-2-5
- in writing: include printing, lithographing, or other mode of representing words and letters. See Indiana Code 1-1-4-5
- model home: means a new dwelling that is used for the first time after construction as:
Indiana Code 32-27-2-3.5
- warranty date: means the following:
Indiana Code 32-27-2-7
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
(1) the warranty date (as defined in section 7 of this chapter); and
(2) the amount of time remaining under the warranty.
As added by P.L.137-2023, SEC.10.