IC 6-1.1-23.9-3: "Substantial property interest of public record"

Sec. 3. (a) "Substantial property interest of public record" means title to or interest in a tract that is within the tract's chain of record title and:

(1) possessed by a person; and

(2) either:

(A) recorded in the office of the county recorder for the county in which the tract is located; or

(B) available for public inspection and properly indexed in the office of the circuit court clerk in the county in which the tract is located;

not later than the hour and date a sale is scheduled to commence under IC 6-1.1-24.

The term does not include a lien held by the state or a political subdivision.

(b) For purposes of IC 6-1.1-24 and IC 6-1.1-25 only, chain of record title includes instruments executed by the owner and recorded within the five (5) day period before the date the owner acquires title to the tract.