Indiana · 2025 Regular Session · Bill
HB 1084: Real estate land contracts.
In committee Official data
- Introduced
- In committee
- Passed one chamber
- Passed both chambers
- Enacted
Last official action: ·Record last updated:
Plain-language summary
HB 1084 is a bill introduced in the Indiana House on January 8, 2025. According to its official title, it concerns: Real estate land contracts. Primary sponsor: Justin Moed (Democratic). It lists 1 additional sponsor. Most recent recorded action (January 27, 2025): Representative Pierce K added as coauthor.
Generated automatically from the official title, sponsor list, and status record only. It does not characterize the bill’s purpose or effects. How summaries are written
Official summary
Abstract published by the legislature (via Open States). Text as published by the legislature; reproduced verbatim.
Defines "principal dwelling land contract" (contract) as a land contract for the sale of real property: (1) designed for the occupancy of one to two families; and (2) that is or will be occupied by the buyer as the buyer's principal dwelling. Provides that a buyer who has completed the buyer's obligations under the contract is entitled to the homestead deduction regardless of whether the seller has conveyed title. Provides that the seller under a contract must provide the buyer with certain information concerning any liens that encumber the property 10 days before the contract is executed. Sets forth disclosures that must be included in a contract. Requires all preexisting liens on the property to be satisfied by the seller by the end of the contract term. Provides that a contract must permit a buyer to pay the balance owed and receive the deed at any time. Prohibits prepayment penalties or additional charges for an early payoff. Provides a three day cancellation period for both the buyer and seller. Allows the seller and the buyer to transfer their respective interests in the contract to other parties, subject to certain conditions. Requires the seller to provide the buyer with an annual statement of account. Sets forth certain rights and responsibilities of the parties upon default by either the buyer or the seller. Sets forth acts and omissions constituting violations and establishes remedies for these violations. Provides that a violation of these provisions constitutes an incurable deceptive act that is actionable by the attorney general under the deceptive consumer sales act. Authorizes the attorney general, in consultation with the department of financial institutions, to adopt rules to implement these provisions. Requires that the executed contract or a memorandum of land contract be notarized.
Sponsors
Sponsors by party (alphabetical): Democratic 1 · Republican 1
| Name | Role | Party | Chamber | District |
|---|---|---|---|---|
| Justin Moed | Primary sponsor | Democratic | House | 97 |
| Kyle Pierce | Co-sponsor | Republican | House | 36 |
“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.
Recent official actions
- Representative Pierce K added as coauthor
- Authored by Representative Moed
- First reading: referred to Committee on Judiciary