{"data":{"id":"us-in/ic-27-7-3.7-3","jurisdiction":"us-in","citation":"IC 27-7-3.7-3","heading":"\"Escrow transaction\"","body":"Sec. 3. (a) As used in this chapter, \"escrow transaction\" means a transaction in which a person deposits with a closing agent funds that are to be held until:\n(1) a specified event occurs; or\n(2) the performance of a prescribed condition;\nin connection with the purchase, sale, or financing of an interest in real estate.\n(b) The term does not include a loan financing if:\n(1) the only parties to the loan transaction are the lender and the borrower; and\n(2) the lender is responsible for disbursing all of the funds to the borrower or to a third party in order to pay fees and charges associated with the loan transaction.","path":["TITLE 27. INSURANCE","ARTICLE 7. SPECIAL TYPES OF INSURANCE","Chapter 3.7. Escrow Transactions in Real Estate Transactions"],"source_url":"https://iga.in.gov/ic/2026/Title_27.html#27-7-3.7-3","current_through":"2026","vintage":"2026","retrieved_at":"2026-09-25T05:39:04Z","sha256":"7885b94fdc917ed59c2e06849ba7256b9dd1dfd3d58c02b34c5dce7d42a85c6c","source_id":"us-in","stale":false,"prev":"us-in/ic-27-7-3.7-2","next":"us-in/ic-27-7-3.7-4"},"notice":"GroundRules: Original legal text. Not legal advice."}