1. (a) A homeowners association lien under this chapter is void if both of the following occur:

   1. (1) The owner of the real estate subject to the homeowners association lien or any person or corporation having an interest in the real estate, including a mortgagee or a lienholder, provides written notice to the owner or holder of the lien to file an action to foreclose the lien.

   2. (2) The owner or holder of the lien fails to file an action to foreclose the lien in the county where the real estate is located within one (1) year after the date the owner or holder of the lien received the notice described in subdivision (1).

      However, this section does not prevent the claim from being collected as other claims are collected by law.

2. (b) A person who gives notice under subsection (a)(1) by registered or certified mail to the owner or holder of the homeowners association lien at the address given in the recorded statement may file an affidavit of service of the notice to file an action to foreclose the lien with the recorder of the county in which the real estate is located. The affidavit must state the following:

   1. (1) The facts of the notice.
   2. (2) That more than one (1) year has passed since the notice was received by the owner or holder of the lien.
   3. (3) That an action for foreclosure of the lien is not pending.
   4. (4) That an unsatisfied judgment has not been rendered on the lien.
3. (c) The recorder shall record the affidavit of service in the miscellaneous record book of the recorder's office. When the recorder records the affidavit under this subsection, the real estate described in the homeowners association lien is released from the lien.
4. (d) An affidavit recorded under subsection (c) must cross reference the lien.

As added by P.L.135-2007, SEC.3. Amended by P.L.167-2009, SEC.4.