A person who is assigned a mortgage and fails to have the assignment properly placed on the mortgage record is bound by the court's judgment or decree as if the person were a party to the suit.

[Pre-2002 Recodification Citation: 32-8-17-1 part.]

As added by P.L.2-2002, SEC.14. Amended by P.L.130-2012, SEC.5; P.L.189-2013, SEC.1.