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    knowledge77's Avatar
    knowledge77 Posts: 4, Reputation: 1
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    #1

    May 4, 2011, 10:38 AM
    Contract for deed Indiana question
    Does a contract for deed have to be recorded in Indiana? And who is responsible and is there a statue or law requiring this document to be recorded within a certain time. Thanks
    AK lawyer's Avatar
    AK lawyer Posts: 12,592, Reputation: 977
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    #2

    May 4, 2011, 10:58 AM
    Quote Originally Posted by knowledge77 View Post
    Does a contract for deed have to be recorded in Indiana? And who is responsible and is there a statue or law requiring this document to be recorded within a certain time period. Thanks
    No, but if it's not recorded, the owner could sell it to someone else and you would be out of luck. It appears that the following statute answers your question:

    "IC 32-21-3-3
    Conveyances requiring recording
    Sec. 3. A conveyance of any real estate in fee simple or for life, a conveyance of any future estate, or a lease for more than three (3) years after the making of the lease is not valid and effectual against any person other than:
    (1) the grantor;
    (2) the grantor's heirs and devisees; and
    (3) persons having notice of the conveyance or lease;
    unless the conveyance or lease is made by a deed recorded within the time and in the manner provided in this chapter."
    knowledge77's Avatar
    knowledge77 Posts: 4, Reputation: 1
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    #3

    May 4, 2011, 11:57 AM
    Thank so much you AKLawyer
    One more question...
    I am trying to exit this contract of deed (due to major partnership issue) , but the seller is requiring me to sign a quite claim deed (they said it will release me from liability) back to them? Is the legal? Since nothing has been recorded regarding this contract of deed?
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
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    #4

    May 4, 2011, 12:08 PM
    Quote Originally Posted by knowledge77 View Post
    Thank so much you AKLawyer
    One more question....
    I am trying to exit this contract of deed (due to major partnership issue) , but the seller is requiring me to sign a quite claim deed (they said it will release me from liability) back to them? Is the legal? Since nothing has been recorded regarding this contract of deed?
    Hello again, k:

    What?? Are you two timing me?

    excon
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