Sec. 3. A person who: (1) purchases a mortgaged premises or any part of a mortgaged premises under the court's judgment or decree at a judicial sale or who claims title to the mortgaged premises under the judgment or decree; and (2) buys the mortgaged premises or any part of the mortgaged premises without actual notice of an assignment that is not of record; holds the premises free and discharged of the lien. [Pre-2002 Recodification Citation: 32-8-17-1 part.]
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