Blog, Business, Real Estate
Update: Indiana’s New Witness Requirement on Recorded Documents
Change of an ‘Or’ to ‘And’ Cause Challenges The recent rewording of a law has caused quite a stir in the business and real estate communities. That’s because changes to Indiana Code 32-21-2-3(a), effective July 1, 2020, now require witness signatures on recorded documents. Senate Enrolled Act 340, passed by the Indiana Senate, merely changed an “or” to an “and” but by so doing, it changed this well-established law to require a common law “proof” of a disinterested party to the transaction serving as a witness to the execution of an instrument. This requirement caught many off guard, necessitating re-documenting transactions or hurriedly changing forms. The perceived requirement of having the witness swear that he or she is not a party to the real estate transaction (deed, mortgage, lease, etc.) disclosed by the instrument and does not “benefit” from the transaction adds a layer of complexity to closings. An additional person must now participate in the closing process and swear to an oath. Many financial institutions are reluctant to have their employees give an oath, which rules them out as witnesses. Furthermore, it’s unclear how “benefit” is to be defined in this scenario. Could a year-end bonus based on loan production technically constitute receiving a benefit from this one transaction? While certain financial institutions may not permit their employees to witness signatures, title companies appear to be fine with their employees acting in this role. Rumors have swirled that many of Indiana’s 92 county recorders are ignoring the statute and accepting documents without witness signatures, provided…
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Blog, News
Announcing Our 2019 Best Lawyers
We are pleased to post that the following attorneys from the firm have been selected to the The Best Lawyers in America (2019 Edition). Banking and Finance Law Jay P. Kennedy Madalyn S. Kinsey James G. Lauck Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law Jay P. Kennedy James A. Knauer Closely Held Companies and Family Businesses Law Brian C. Bosma Corporate Compliance Law David E. Wright Environmental Law Gregory P. Cafouros Government Relations Practice Brian C. Bosma Litigation – Banking and Finance Jay P. Kennedy James G. Lauck Litigation – Bankruptcy James A. Knauer
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Appearances, Banking and Commercial Transactions, Blog
Madalyn Kinsey attended the Annual ACMA meeting as State Chair
Formed in 1974, the American College of Mortgage Attorneys (ACMA) is comprised of more than 400 lawyers in North America who are experts in mortgage law. Madalyn S. Kinsey focuses her practice in the representation of financial institutions in commercial lending transactions, real estate financings, work-outs, floor plan financings, aircraft financing, and bank regulatory matters. She represents real estate developers and investors in the construction, acquisition, management, and leasing of commercial real estate projects. She represents business entities in complex financings and joint ventures. https://www.acmaatty.org/page/AboutACMA
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Announcing Our 2018 Super Lawyers
We are pleased to post that the following attorneys from the firm have been selected to the 2018 Indiana Super Lawyers and the Indiana Super Lawyers Rising Stars list. Each year no more than five percent of the lawyers in the state are selected by the research team at Super Lawyers to receive this honor. William Bock Entertainment & Sports Jay Kennedy Creditor Debtor Rights Madalyn Kinsey Banking James Knauer Business Litigation David Wright Business Litigation Rising Stars Joseph Pettygrove Employment & Labor Justin Leverton Business & Corporate
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Introducing “The Best Lawyers in America”© 2018
Congratulations KGR Attorneys Listed in “The Best Lawyers in America”© 2018 Best Lawyers is the definitive guide to legal excellence and selections are based solely on peer review. Corporate Counsel magazine has called Best Lawyers “the most respected referral list of attorneys in practice.” KGR is extremely proud of our recent recipients. Brian C. Bosma was recently selected by his peers for inclusion in The Best Lawyers in America 2018 for Closely Held Companies and Family Business Law. This is Mr. Bosma’s first recognition by Best Lawyers in this field. With an extensive background in engineering, business, law and government, Mr. Bosma’s practice is concentrated in the areas of complex business and municipal transactions, municipal finance and environmental matters. He chairs the Business and Government Practice Groups of Kroger Gardis & Regas, and serves as general or special counsel to dozens of municipalities and business entities throughout the State of Indiana. An engineering graduate of Purdue University, Mr. Bosma represents both public and private sector clients in real estate and construction projects, public sector joint ventures and redevelopment matters. Representative Bosma has served as a member of the Indiana House of Representatives since 1986 in numerous leadership capacities, including currently serving as the Speaker of the House since 2010. Mr. Bosma is a founding director of Bosma Industries for the Blind and serves as the Chairman of the Bosma Visionary Opportunities Foundation. This marks the tenth year that Jay Kennedy was selected by his peers for inclusion in The Best Lawyers in America 2018. Jay was…
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Madalyn Kinsey Attending 2017 Annual Meeting of the American College of Mortgage Attorneys in September
Madalyn S. Kinsey is attending the 2017 Annual Meeting of the American College of Mortgage Attorneys (“ACMA”) at the Omni Grove Park Inn & Spa in Asheville, North Carolina, September 14-16. Madalyn is ACMA’s Indiana State Chair and one of only three ACMA Fellows practicing in the State of Indiana.
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Madalyn Kinsey Addresses the Impact of a Recent 7th Circuit Opinion on Bank Financed Projects in Indiana
KGR Partner Madalyn Kinsey is quoted by the Indiana Lawyer in its article regarding a recent 7th Circuit opinion addressing Exclusion 3(a) in the standard title insurance policy. Ms. Kinsey discusses what the ruling means to bank financed construction projects in Indiana. To read the full article, click here.
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Kinsey to Speak About Self-Publishing From the Author’s Perspective
Partner and author, Madalyn S. Kinsey will be speaking at the Columbian Business Network’s luncheon meeting on September 19, 2014 at The Columbia Club. She will be speaking about “The Ins and Outs of Self-Publishing” from her perspective as a published author. Kinsey is the author of The Ghost of Cheeney Creek, released in April 2014. Information about the book is available on Amazon and Barnes & Noble websites. For more information on the CBN luncheon, please visit their website.
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Kinsey to Speak on the Topic of Loan Documentation and Lender Liability
Partner, Madalyn S. Kinsey will be speaking on Loan Documentation and Lender Liability on July 22, 2014, at the Central Indiana RMA Commercial Lending School. The RMA Commercial Lending School is an annual three-day educational program held July 21-23 for financial services professionals, including commercial lenders, underwriters, credit approvers, bank examiners, and accountants. Other speakers include senior officers and officials from the U.S. SBA, Cambridge Capital, Huntington National Bank, Regions Bank, US Bank, BMO Harris Bank, Old National Bank, Katz Sapper & Miller, and Alerding & Co. For more information on this program click here.
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