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Indiana Mortgage Secured by Promissory Note

Indiana Mortgage Secured by Promissory Note Information

Indiana Mortgage -- IC 32-29; IC 36-2-7-10
Requires:
1. From parties (Grantor).
2. To parties (Grantees).
3. Legal description.
4. Amount.
5. Signatures with names typed or printed below or next to each name.
6. Signatures acknowledged or notarized.
7. Prepared by statement.
8. Social Security redaction statement.

IC 32-29-1-2 Construction of mortgage
Sec. 2. A mortgage may not be construed to imply a covenant for the payment of the sum intended to be secured by the mortgage so as to enable the mortgagee or the mortgagee's assignees or representatives to maintain an action for the recovery of this sum. If an express covenant is not contained in the mortgage for the payment and a bond or other separate instrument to secure the payment has not been given, the remedy of the mortgagee is confined to the real property described in the mortgage.

IC 32-29-1-5 Form; mortgage
Sec. 5. A mortgage of land that is:
(1) worded in substance as "A.B. mortgages and warrants to C.D." (here describe the premises) "to secure the repayment of" (here recite the sum for which the mortgage is granted, or the notes or other evidences of debt, or a description of the debt sought to be secured, and the date of the repayment); and

(2) dated and signed, sealed, and acknowledged by the grantor;
is a good and sufficient mortgage to the grantee and the grantee's heirs, assigns, executors, and administrators, with warranty from the grantor (as defined in IC 32-17-1-1) and the grantor's legal representatives of perfect title in the grantor and against all previous encumbrances. However, if in the mortgage form the words "and warrant" are omitted, the mortgage is good but without warranty.

This Mortgage States: Grantor for himself and for Grantor's heirs, executors, administrators,
successors and assigns forever, warrants and agrees to defend the title to the Property to and for Lender and Lender's successors and assigns forever, against all claims and demands, except those listed herein, attached and made part of this mortgage if applicable.

Uses include residential property, condominiums, rental property, small commercial, vacant land and planned unit developments.

For use in Indiana only.

Deeds.com Indiana Mortgage Secured by Promissory Note Forms Have Been Updated as Recently as Friday July 1, 2022

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