CHAPTER 6. SALE OF PROPERTY ON EXECUTION
IC 34-55-6
Chapter 6. Sale of Property on Execution
IC 34-55-6-1
Real estate; rents and profits to be first offered for sale
Sec. 1. The estate or interest of the judgment debtor in any realestate shall not be sold on execution until the rents and profits of thereal estate has been first offered for sale at public auction for aperiod not exceeding seven (7) years. However, if the real estate doesnot sell for a sum sufficient to satisfy the execution, the estate orinterest of the judgment debtor shall be sold by virtue of theexecution.
As added by P.L.1-1998, SEC.51.
IC 34-55-6-2
Manner of sale
Sec. 2. A sheriff shall sell property on execution in a manner thatis reasonably likely to bring the highest net proceeds from the saleafter deducting the expenses of the offer to sell and sale.
As added by P.L.1-1998, SEC.51.
IC 34-55-6-3
Auctions
Sec. 3. Upon prior petition of the debtor or any creditor involvedin the execution proceedings, the court in its order of execution shallorder the property sold by the sheriff through the services of anauctioneer if the court determines that:
(1) a sale is economically feasible; or
(2) all the creditors in the proceedings agree to both that methodof sale and the compensation to be paid the auctioneer.
As added by P.L.1-1998, SEC.51.
IC 34-55-6-4
Auctioneer's conduct; advertising
Sec. 4. An auctioneer engaged by a sheriff under this chapter shallconduct the auctioneer's activities as appropriate to bring the highestbid for the property on execution. The advertising conducted by theauctioneer is in addition to any other notice required by law.
As added by P.L.1-1998, SEC.51.
IC 34-55-6-5
Auctioneer's fee and expenses
Sec. 5. (a) The auctioneer's fee shall be a reasonable amountstated in the court's order. However, if the sale by use of anauctioneer has not been agreed to by the creditors in the proceedingsand the sale price is less than the amount set out in section 3 of thischapter, the auctioneer is entitled only to the auctioneer's advertisingexpenses plus one hundred dollars ($100).
(b) The amount due the auctioneer for the auctioneer's expensesand fee, if any, shall be paid as a cost of the sale from the sale
proceeds before the payment of any other payment from the saleproceeds.
As added by P.L.1-1998, SEC.51.
IC 34-55-6-6
Rents and profits; sale and appraisal
Sec. 6. Rents and profits may be sold as other property, theappraisers setting down the value of each year separately.
As added by P.L.1-1998, SEC.51.
IC 34-55-6-7
Rents and profits; maximum term of lease
Sec. 7. If rents and profits are sold under section 6 of this chapter(or IC 34-1-39-2 before its repeal), only the number of years of rentsand profits not exceeding seven (7) years shall be sold as will satisfythe execution, and no more. The sheriff shall execute a lease to thepurchaser for the term sold.
As added by P.L.1-1998, SEC.51.
IC 34-55-6-8
Real estate; sale at public auction
Sec. 8. (a) Real estate, including chattels real, taken by virtue ofan execution, shall be sold at public auction at:
(1) the courthouse of the county in which the real estate islocated; or
(2) another location that is reasonably likely to draw higher bidsfor the real property.
(b) If the estate consists of several lots, tracts, and parcels, eachlot, tract, or parcel shall be offered for sale separately. No more ofany real estate shall be offered for sale than is necessary to satisfy theexecution, unless the real estate is not susceptible of division.
(c) When real estate which is not susceptible of division isordered to be sold on any decree or judgment, and the real estate istraversed by the line between two (2) counties, the real estate may beadvertised and sold in either county.
As added by P.L.1-1998, SEC.51.
IC 34-55-6-9
Real estate; notice requirements for sale
Sec. 9. (a) A sale of real estate, on execution, shall be advertisedby the sheriff for at least twenty (20) days successively, next beforethe day of sale, by:
(1) posting written or printed notices of the sale in three (3)public places in the township in which the real estate is located;
(2) posting a like advertisement at the door of the courthouse ofthe county; and
(3) advertising the sale for three (3) weeks successively in anewspaper:
(A) of general circulation;
(B) printed in the English language; and (C) published in the county where the real estate is located.
(b) However, if the sheriff is not able to procure the publicationof the notice in a newspaper of general circulation, published withinthe sheriff's county, the sheriff may dispense with the publication ofthe notice. The land may be sold without the required publication,but the sheriff shall, in the sheriff's return of the writ, state thesheriff's inability to procure the publication. The return has the sameeffect in evidence as the official returns of sheriffs in other cases.
(c) In a notice under this section, the sheriff must include thefollowing:
(1) A statement of the date, time, and place of the sale.
(2) A description of the location of the property that includes,for informational purposes only, the location of each propertyby street address, if any, or other common description of theproperty other than legal description. However, a misstatementin the informational statement under this subdivision does notinvalidate an otherwise valid sale.
As added by P.L.1-1998, SEC.51.
IC 34-55-6-10
Personal property; notice requirements for sale
Sec. 10. Previous notice of the time and place of the sale of anypersonal property on execution shall be given for ten (10) dayssuccessively by posting written notices of the sale in at least three (3)of the most public places in the township where the sale is to bemade.
As added by P.L.1-1998, SEC.51.
IC 34-55-6-11
Personal property; sale at public auction
Sec. 11. (a) Personal property shall not be sold unless the personalproperty is present and subject to the view of those persons attendingthe sale.
(b) Personal property shall be sold at public auction, in such lotsand parcels as calculated to bring the highest price.
As added by P.L.1-1998, SEC.51.
IC 34-55-6-12
Insufficient levy; further levy and sale
Sec. 12. If the property levied on does not sell for a sum sufficientto satisfy the execution, the sheriff shall:
(1) make a further and sufficient levy, if sufficient property canbe found;
(2) proceed as upon the first levy; and
(3) return the sheriff's actions on the further levy.
As added by P.L.1-1998, SEC.51.
IC 34-55-6-13
Unsatisfied execution; issuance of new execution
Sec. 13. The clerk, upon the return of an execution unsatisfied,
shall issue another execution upon the judgment, and endorse on theexecution the amount of money, if any, levied by the formerexecution.
As added by P.L.1-1998, SEC.51.
IC 34-55-6-14
Real estate; sheriff's deed
Sec. 14. (a) Upon the sale of real estate, by virtue of an execution,and the payment of the purchase money, the sheriff making the sale(or in case of the sheriff's death or going out of office, the sheriff'ssuccessor) or any officer authorized to discharge the duties of theoffice shall execute and deliver to the purchaser a deed ofconveyance for the premises.
(b) A deed of conveyance delivered under subsection (a) is validand effectual to convey all the right, title, and interest of theexecution debtor to the purchaser, except any right of redemption, asprovided by law.
As added by P.L.1-1998, SEC.51.
IC 34-55-6-15
Real estate; conveyance of land to heirs or devisees of deceasedpurchaser
Sec. 15. If the purchaser of real estate upon execution, who haspaid the purchase money for the real estate, dies before a deed ofconveyance is executed to the purchaser, the sheriff shall convey thereal estate to the heirs or devisees of the deceased person.
As added by P.L.1-1998, SEC.51.
IC 34-55-6-16
Procedural violations by sheriff; penalties
Sec. 16. (a) A sheriff who:
(1) sells any real estate without giving the previous noticerequired by this chapter (or IC 34-1-39 before its repeal); or
(2) sells the real estate otherwise than in the manner prescribedby this chapter;
shall forfeit and pay to the injured party not less than ten dollars($10) nor more than two hundred dollars ($200) in addition to otherdamages the party may have sustained.
(b) Damages under subsection (a) may be recovered from thesheriff or from the sheriff and the sheriff's sureties in an action on thesheriff's official bond.
As added by P.L.1-1998, SEC.51.
IC 34-55-6-17
Purchase of property by sheriff or deputies; sale void
Sec. 17. If a sheriff or the sheriff's agent making sale of propertyon execution directly or indirectly purchases the property, the sale isvoid.
As added by P.L.1-1998, SEC.51.
IC 34-55-6-18
Failure of purchaser to pay for property; damages
Sec. 18. Whenever the purchaser of property sold on executionfails or refuses to pay the purchase money, the purchaser is liable, onmotion made by the sheriff or the execution plaintiff or defendant inthe proper court on five (5) days notice, to a judgment for the amountof:
(1) the purchase money;
(2) damages not exceeding ten percent (10%);
(3) interest; and
(4) costs.
No stay of execution shall be allowed upon the judgment.
As added by P.L.1-1998, SEC.51.
IC 34-55-6-19
Failure of purchaser to pay for property; resale of property;damages
Sec. 19. (a) As an alternative to the procedure set forth in section18 of this chapter, the sheriff may reexpose and sell the property onthe same or any subsequent day according to law. If the amount bidat the second sale does not equal the amount bid at the first sale andthe costs of the second sale, the first purchaser is liable for:
(1) the deficiency;
(2) damages not exceeding ten percent (10%);
(3) interest; and
(4) costs;
to be recovered by a like notice and motion as provided in section 18of this chapter.
(b) If the sheriff sells on a subsequent day, the sheriff shallreadvertise as in other cases.
As added by P.L.1-1998, SEC.51.
IC 34-55-6-20
Limitation on use of mail
Sec. 20. When an execution is issued to any county other than thecounty in which the judgment is rendered, return may be made bymail. However, money may not be sent by mail, except by thedirection of the party entitled to the money or that party's attorney.
As added by P.L.1-1998, SEC.51.
IC 34-55-6-21
Surplus of execution sale; disposition
Sec. 21. When property is sold on execution for more than willsatisfy the execution, including interest and costs, the sheriff shallpay the overplus to the execution debtor on whom it was levied, orto the execution debtor's assigns, unless the execution debtor isnotified of the existence of liens to the payment of which theoverplus should be applied. In that event, the execution debtor shallreturn the money, which is to be disposed of as the court directs.
As added by P.L.1-1998, SEC.51.