1. (a) Except as provided in subsection (b), this article applies to a first lien mortgage transaction:

   1. (1) that is secured by an interest in:

      1. (A) a dwelling; or

      2. (B) residential real estate upon which a dwelling is constructed or intended to be constructed;

         in Indiana; and

   2. (2) the closing for which takes place after June 30, 2026.

2. (b) This article does not apply to a first lien mortgage transaction if:

   1. (1) the debtor is not a resident of Indiana at the time the transaction is entered into; and

   2. (2) the laws of the debtor's state of residence require that the transaction be made under the laws of the state of the debtor's residence.

      [Pre-2026 Revision Citation: 24-4.4-1-201.]

As added by P.L.115-2026, SEC.97.