Sec. 5. (a) Natural persons who are aliens, whether they reside in the United States or any foreign country, subject to section 7 of this chapter, may:
(1) acquire real estate by purchase, devise, or descent;
(2) hold and enjoy real estate; and
(3) convey, devise, transmit, mortgage, or otherwise encumber real estate;
in the same manner and with the same effect as citizens of Indiana or the United States.
(b) The title of any real estate inherited, mortgaged, conveyed, or devised is not affected by the alienage of any person from or through whom the title is claimed or derived.