Senate Enrolled Act 279 Summary

• Amends IC 32-29-8-2 to simplify provisions regarding persons assigned a mortgage who fail to properly record the assignment, making them bound by court judgments or decrees as if they were parties to the suit

• Removes previous language in IC 32-29-8-2 that separately addressed persons with interests who were not made parties to foreclosure actions as required by statute

• Modifies IC 32-29-8-3 to streamline provisions for purchasers at judicial sales who buy mortgaged premises without actual notice of unrecorded assignments

• Eliminates language from IC 32-29-8-3 that addressed notice of transferred notes where the holder was not a party to the action

• Removes provisions allowing assignees and transferees to redeem properties within one year after sale or other court-ordered periods

• Effective July 1, 2013