"Root of title" means that title transaction in the chain of title of a person:

1. (1) that purports to create the interest claimed by the person;
2. (2) upon which the person relies as a basis for the marketability of the person's title; and
3. (3) that is the most recent to be recorded as of a date at least fifty

4. (50) years before the time when marketability is being determined.

   The effective date of the root of title is the date on which it is recorded.

   [Pre-2002 Recodification Citation: 32-1-5-8(e).]

As added by P.L.2-2002, SEC.5.