Indiana § 27-7-3-2 - Definitions
Full text of Indiana Indiana Code § 27-7-3-2 — Definitions, with citation guidance and answers to common questions.
§ 27-7-3-2. Definitions
Sec. 2. As used in this chapter and unless a different meaning appears from the context:
(a) The term "title insurance" means a contract of insurance against loss or damage on account of encumbrances upon or defects in the title to real estate.
(b) The term "closing protection letter" means a written indemnification of or undertaking to a party to a real estate transaction by a principal that specifies the extent to which the principal is responsible for intentional or unintentional misconduct or errors of an agent of the principal in connection with the closing of the real estate transaction.
(c) The term "company" shall mean and include any corporation, domestic or foreign, to which this chapter is applicable.
(d) The term "department" shall mean the department of insurance of the state of Indiana.
(e) The term "commissioner" shall mean the insurance commissioner.
(f) The term "public record" has the meaning set forth in IC 5-14-3-2.
(g) The term "title policy" means a policy issued by a company that:
(1) is authorized to do business as a title insurance company under section 3 of this chapter; and
(2) insures or indemnifies persons with an interest in real property against loss or damage caused by a lien on, an encumbrance on, a defect in, or the unmarketability of the title to the real property.
(h) The term "title search" means a search and examination of the public records sufficient to determine:
(1) ownership of;
(2) encumbrances on;
(3) liens on; and
(4) defects in the title to;
the real estate that is the subject of the search.
Formerly: Acts 1937, c.104, s.2. As amended by P.L.252-1985, SEC.248; P.L.68-2002, SEC.1; P.L.80-2013, SEC.3.
Frequently Asked Questions About Indiana § 27-7-3-2
What does Indiana Code § 27-7-3-2 cover?
Section 27-7-3-2 ("Definitions") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 27-7-3-2?
A common citation format is "Indiana Code § 27-7-3-2" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 27-7-3-2 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.