Terms Used In Indiana Code 32-33-11-7

  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
   Sec. 7. This chapter may not be construed as repealing any other law in force on May 31, 1921, concerning liens or the foreclosure of liens. This chapter is intended to be supplemental to all laws in force on May 31, 1921, concerning liens and the foreclosure of liens.

[Pre-2002 Recodification Citation: 32-8-32-6.]

As added by P.L.2-2002, SEC.18.