Indiana Code 32-29-6-14. Acceptance of payment
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Terms Used In Indiana Code 32-29-6-14
- 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.
Sec. 14. The acceptance of a payment by a creditor or mortgage servicer of an amount that is not sufficient to pay the amount owed does not constitute a waiver, release, accord and satisfaction, or other impairment of the creditors or mortgage servicers rights notwithstanding any contrary instructions or restrictive endorsements.
[Pre-2002 Recodification Citation: 32-8-15.5-14.]
As added by P.L.2-2002, SEC.14.