This chapter does not apply to the following:

1. (1) A conveyance made for the purpose of extinguishing a possibility of reverter or a right of entry.

2. (2) The rights of:

   1. (A) a mortgagee based on the terms of the mortgage;
   2. (B) a trustee or beneficiary under a trust deed in the nature of a mortgage based on the terms of the trust deed;
   3. (C) a grantor under a vendor's lien reserved in a deed;
   4. (D) a lessor under a lease for a term of years; or

   5. (E) a person with a separate property interest in coal, oil, gas, or other minerals.

      [Pre-2002 Recodification Citation: 32-1-21-1.]

As added by P.L.2-2002, SEC.2.