Ind. Code § 27-7-3.7-3
"Escrow transaction"
Indiana · Indiana Code Title 27 — Insurance · Status: effective
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- Ind. Code § 27-7-3.7-3, "Escrow transaction", Indiana, version 1 as recorded 2026-09-28, yourstate.us, https://yourstate.us/provision/1663510
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Full text
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:
(1) a specified event occurs; or
(2) the performance of a prescribed condition;
in connection with the purchase, sale, or financing of an interest in real estate.
(b) The term does not include a loan financing if:
(1) the only parties to the loan transaction are the lender and the borrower; and
(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.