"Appraisal"
Ind. Code § 24-5-23.5-1
in effectSec. 1. (a) As used in this chapter, "appraisal" means an estimation that:
(1) represents the final opinion of the value of real property that is the subject of a real estate transaction; and
(2) serves as the basis for the extension of credit, in the case of a real estate transaction involving the making, refinancing, or consolidation of a mortgage loan.
(b) The term may include any of the following:
(1) The results of an automated valuation model.
(2) A broker's price opinion.
(3) A desktop evaluation.
As added by P.L.52-2009, SEC.2.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/24Fetched: 10/17/2026