# Ind. Code § 27-7-3.7-9: Mortgage holder's right to receive proceeds from real estate transaction through funds electronically transferred to specified account

> Indiana · Statutes · Reserved

URL: https://www.frixlaw.com/law-library/statutes/STATE_IN_T27_A7_C3.7_S27-7-3.7-9

## Section

- **Citation:** Ind. Code § 27-7-3.7-9
- **Heading:** Mortgage holder's right to receive proceeds from real estate transaction through funds electronically transferred to specified account
- **Jurisdiction:** Indiana
- **Kind:** Statutes
- **Status:** Reserved
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Indiana Code / Title 27 / Article 7 / Chapter 3.7 / Section 27-7-3.7-9

## Text

Sec. 9. If:

(1) the closing agent in a real estate transaction receives wired funds unconditionally held and irrevocably credited to the escrow account of the closing agent; and

(2) a holder of a mortgage lien encumbering real estate so requests, as part of written closing instructions or a written payoff statement in advance of closing;

the holder of the mortgage lien is entitled to receive its proceeds from the real estate transaction through funds electronically transferred to an account specified by the holder of the mortgage lien.

As added by P.L.92-2009, SEC.1.

## Nearby sections

- [Ind. Code § 27-7-3.7-1 "Closing agent"](https://www.frixlaw.com/law-library/statutes/STATE_IN_T27_A7_C3.7_S27-7-3.7-1.md)
- [Ind. Code § 27-7-3.7-2 "Escrow account"](https://www.frixlaw.com/law-library/statutes/STATE_IN_T27_A7_C3.7_S27-7-3.7-2.md)
- [Ind. Code § 27-7-3.7-3 "Escrow transaction"](https://www.frixlaw.com/law-library/statutes/STATE_IN_T27_A7_C3.7_S27-7-3.7-3.md)
- [Ind. Code § 27-7-3.7-4 "Good funds"](https://www.frixlaw.com/law-library/statutes/STATE_IN_T27_A7_C3.7_S27-7-3.7-4.md)
- [Ind. Code § 27-7-3.7-5 "Real estate transaction"](https://www.frixlaw.com/law-library/statutes/STATE_IN_T27_A7_C3.7_S27-7-3.7-5.md)
- [Ind. Code § 27-7-3.7-6 Funds received in escrow transaction to be deposited in escrow account; exception](https://www.frixlaw.com/law-library/statutes/STATE_IN_T27_A7_C3.7_S27-7-3.7-6.md)
- [Ind. Code § 27-7-3.7-7 Disbursements; requirements for funds of at least $10,000 received from single party](https://www.frixlaw.com/law-library/statutes/STATE_IN_T27_A7_C3.7_S27-7-3.7-7.md)
- [Ind. Code § 27-7-3.7-8 Disbursements; requirements for funds less than $10,000 received from single party](https://www.frixlaw.com/law-library/statutes/STATE_IN_T27_A7_C3.7_S27-7-3.7-8.md)
- [Ind. Code § 27-7-3.7-9 Mortgage holder's right to receive proceeds from real estate transaction through funds electronically transferred to specified account](https://www.frixlaw.com/law-library/statutes/STATE_IN_T27_A7_C3.7_S27-7-3.7-9.md)
- [Ind. Code § 27-7-3.7-10 Advance of fees from escrow account to pay incidental fees](https://www.frixlaw.com/law-library/statutes/STATE_IN_T27_A7_C3.7_S27-7-3.7-10.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_IN_T27_A7_C3.7_S27-7-3.7-9. Check the current official text before relying on it. Not legal advice.