1. (a) "Substantial property interest of public record" means title to or interest in a tract that is within the tract's chain of record title and:

   1. (1) possessed by a person; and

   2. (2) either:

      1. (A) recorded in the office of the county recorder for the county in which the tract is located; or

      2. (B) available for public inspection and properly indexed in the office of the circuit court clerk in the county in which the tract is located;

         not later than the hour and date a sale is scheduled to commence under IC 6-1.1-24 .

         The term does not include a lien held by the state or a political subdivision.

2. (b) For purposes of IC 6-1.1-24 and IC 6-1.1-25 only, chain of record title includes instruments executed by the owner and recorded within the five (5) day period before the date the owner acquires title to the tract.

As added by P.L.99-2018, SEC.1. Amended by P.L.187-2018, SEC.2.