Sec. 2. (a) An assignment under this chapter must be:

(1) by indenture; and

(2) signed and acknowledged before a person who is authorized to take the acknowledgment of deeds.

(b) The indenture must, within ten (10) days after the execution, be filed with the recorder of the county in which the assignor resides. The recorder shall record the indenture of assignment the same as deeds are recorded.

(c) The indenture of assignment must:

(1) contain a full description of all real estate assigned; and

(2) be accompanied by a schedule containing a particular enumeration and description of all the personal property assigned.

(d) The assignor shall make oath before a person authorized to administer oaths. The oath must:

(1) verify the indenture and schedule and contain a statement of all the property, rights, and credits belonging to the assignor, or of which the assignor has knowledge, and that the assignor has not, directly or indirectly, transferred or reserved a sum of money or article of property for the assignor's own use or the benefit of another person; and

(2) indicate the assignor has not acknowledged a debt or confessed a judgment to a person for a sum greater than was justly owing to the person, or with the intention of delaying or defrauding the assignor's creditors.

(e) An assignment under this chapter may not convey to the assignee an interest in property assigned until the assignment is recorded as provided in this section.

[Pre-2002 Recodification Citation: 32-12-1-2.]

As added by P.L.2-2002, SEC.3.