CHAPTER 5. PERSONAL PROPERTY TAKEN IN EXECUTION OF JUDGMENT

IC 34-55-5
    Chapter 5. Personal Property Taken in Execution of Judgment

IC 34-55-5-1
Return of property to execution defendant
    Sec. 1. (a) Any personal property taken in execution may bereturned to the execution defendant by the sheriff, upon the deliveryby the defendant to the sheriff of a written undertaking described insubsection (b).
    (b) The written undertaking must be:
        (1) payable to the execution plaintiff, with sufficient surety tobe approved by the sheriff; and
        (2) to the effect that the property shall be delivered to thesheriff at a time and place named in the undertaking, to be sold:
            (A) according to law; or
            (B) for the payment to the sheriff of:
                (i) the appraised value of the property; or
                (ii) if the property has not been appraised, the fair value ofthe property.
As added by P.L.1-1998, SEC.51.

IC 34-55-5-2
Appraisal of property
    Sec. 2. (a) Before the sheriff delivers any part of the property tothe defendant, the sheriff shall cause the property to be appraised inthe manner prescribed by law when an appraisement of the propertyis required.
    (b) The defendant may sell or dispose of the property, paying theofficer the full appraised value of the property.
As added by P.L.1-1998, SEC.51.

IC 34-55-5-3
Nondelivery of property; duty of sheriff to levy and sell
    Sec. 3. In case of the nondelivery of the property according to theundertaking, the sheriff shall levy upon and sell the property, or anyother property of the defendant, as soon as practicable, at any timebefore the return day of the execution.
As added by P.L.1-1998, SEC.51.

IC 34-55-5-4
Forfeiture of undertaking; endorsement
    Sec. 4. Upon the forfeiture of the written undertaking, the officershall immediately return it endorsed "forfeited" to the clerk's officefor the use of the plaintiff.
As added by P.L.1-1998, SEC.51.

IC 34-55-5-5
Actions on undertakings; damages
    Sec. 5. The written undertaking is valid in law. An action may bebrought on the written undertaking, whenever the condition of the

written undertaking is broken, and on recovery. The value of theproperty so taken, with damages not exceeding ten percent (10%) onthe value, shall be assessed in favor of the plaintiff. However, therecovery may not exceed the amount due on the execution, and tenpercent (10%) on the principal.
As added by P.L.1-1998, SEC.51.

IC 34-55-5-6
Execution without stay
    Sec. 6. On judgment obtained on the written undertaking,execution shall issue immediately, without stay, returnable in thirty(30) days, and the sheriff shall not return to the execution defendantany property levied on, except upon payment of the judgment.
As added by P.L.1-1998, SEC.51.