Sec. 20. (a) In the case of a voluntary conveyance of property in a subdivision, the grantee of the property is jointly and severally liable with the grantor for all unpaid subdivision drain repair assessments that were imposed on the grantor under this chapter before the grant or conveyance, without prejudice to the grantee’s right to recover from the grantor the amounts of the subdivision drain repair assessments paid by the grantee.

     (b) If the mortgagee of a first mortgage of record or another purchaser obtains title to a property in a subdivision as a result of foreclosure of the first mortgage, the acquirer of title or the acquirer’s successors and assigns are not liable for the share of the subdivision drain repair assessments that are chargeable to the property and that became due before the acquirer acquired title to the property, and any subdivision drain repair lien on the property relating to the share of the subdivision drain repair assessment that became due before the mortgagee or other purchaser acquired title to the property shall be released.

As added by P.L.139-2018, SEC.2.

Terms Used In Indiana Code 36-9-27.8-20

  • 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
  • Grantor: The person who establishes a trust and places property into it.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Mortgagee: The person to whom property is mortgaged and who has loaned the money.
  • Property: includes personal and real property. See Indiana Code 1-1-4-5
  • subdivision: has the meaning set forth in Indiana Code 36-9-27.8-5
  • subdivision drain: means a system that:

    Indiana Code 36-9-27.8-6

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