TITLE 5

PROCEEDINGS IN CIVIL ACTIONS IN COURTS OF RECORD

CHAPTER 2

LIMITATION OF ACTIONS

5-214A.  Action to foreclose mortgage on real property. An action for the foreclosure of a mortgage on real property must be commenced within five (5) years from the maturity date of the obligation or indebtedness secured by such mortgage. If the obligation or indebtedness secured by such mortgage does not state a maturity date, then the date of the accrual of the cause of action giving rise to the right to foreclose shall be deemed the date of maturity of such obligation or indebtedness.

History:

[I.C., sec. 5-214A, as added by 1951, ch. 254, sec. 1, p. 552; am. 1999, ch. 112, sec. 1, p. 340.]