Indiana Code 32-28-12.5-16. Waiver of right to lien void
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Terms Used In Indiana Code 32-28-12.5-16
- broker company: has the meaning set forth in Indiana Code 32-28-12.5-0.5
- fees or commissions: means compensation owed to a broker company for performing services requiring a license under Indiana Code 32-28-12.5-2
- Lien: A claim against real or personal property in satisfaction of a debt.
- Property: includes personal and real property. See Indiana Code 1-1-4-5
Sec. 16. Except for a waiver or release of a memorandum or lien provided in consideration of payment of the fees or commissions claimed by a broker company under this chapter, or except as otherwise provided in section 13 of this chapter, any waiver of a broker company’s right to a lien on commercial property under this chapter is void.
As added by P.L.78-2006, SEC.1. Amended by P.L.127-2012, SEC.61; P.L.116-2015, SEC.34.