IC 37-1-1-5: Application; nonresident debtor

Sec. 5. (a) Except as provided in subsection (b), this article applies to a first lien mortgage transaction:

(1) that is secured by an interest in:

(A) a dwelling; or

(B) residential real estate upon which a dwelling is constructed or intended to be constructed;

in Indiana; and

(2) the closing for which takes place after June 30, 2026.

(b) This article does not apply to a first lien mortgage transaction if:

(1) the debtor is not a resident of Indiana at the time the transaction is entered into; and

(2) the laws of the debtor's state of residence require that the transaction be made under the laws of the state of the debtor's residence.