Indiana Code
Chapter 3.7. Escrow Transactions in Real Estate Transactions
27-7-3.7-9. Mortgage Holder's Right to Receive Proceeds From Real Estate Transaction Through Funds Electronically Transferred to Specified Account

Sec. 9. If:
(1) the closing agent in a real estate transaction receives wired funds unconditionally held and irrevocably credited to the escrow account of the closing agent; and
(2) a holder of a mortgage lien encumbering real estate so requests, as part of written closing instructions or a written payoff statement in advance of closing;
the holder of the mortgage lien is entitled to receive its proceeds from the real estate transaction through funds electronically transferred to an account specified by the holder of the mortgage lien.
As added by P.L.92-2009, SEC.1.

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Structure Indiana Code

Indiana Code

Title 27. Insurance

Article 7. Special Types of Insurance

Chapter 3.7. Escrow Transactions in Real Estate Transactions

27-7-3.7-1. "Closing Agent"

27-7-3.7-2. "Escrow Account"

27-7-3.7-3. "Escrow Transaction"

27-7-3.7-4. "Good Funds"

27-7-3.7-5. "Real Estate Transaction"