60-2415.Sheriff's return of sale.(a) Certificate of purchase. The sheriff shall at once make areturn of all sales made under this article to the court. All taxes dueor delinquent shall be noted on the sheriff's return. If the court findsthe proceedings regular and in conformity with law and equity, it shallconfirm the same, direct the clerk to make such entry upon the journal andorder the sheriff to make to the purchaser the certificate of sale or deedprovided for in this article.
(b) Equity powers of court. The court may decline to confirm thesale where the bid is substantially inadequate, or in ordering a sale or aresale, may, in its discretion, if conditions or circumstances warrant andafter a proper hearing, fix a minimum or upset price at which the propertymust be bid in if the sale is to be confirmed; or the court may, uponapplication for the confirmation of the sale, if it has not theretoforefixed an upset price, conduct a hearing to establish the value of theproperty, and as a condition to confirmation require the fair value of theproperty be credited upon the judgment, interest, taxes and costs. A salefor the full amount of the judgment, taxes, interest and costs shall bedeemed adequate.
History: L. 1963, ch. 303, 60-2415;L. 1988, ch. 219, § 2; July 1.
60-2415.Sheriff's return of sale.(a) Certificate of purchase. The sheriff shall at once make areturn of all sales made under this article to the court. All taxes dueor delinquent shall be noted on the sheriff's return. If the court findsthe proceedings regular and in conformity with law and equity, it shallconfirm the same, direct the clerk to make such entry upon the journal andorder the sheriff to make to the purchaser the certificate of sale or deedprovided for in this article.
(b) Equity powers of court. The court may decline to confirm thesale where the bid is substantially inadequate, or in ordering a sale or aresale, may, in its discretion, if conditions or circumstances warrant andafter a proper hearing, fix a minimum or upset price at which the propertymust be bid in if the sale is to be confirmed; or the court may, uponapplication for the confirmation of the sale, if it has not theretoforefixed an upset price, conduct a hearing to establish the value of theproperty, and as a condition to confirmation require the fair value of theproperty be credited upon the judgment, interest, taxes and costs. A salefor the full amount of the judgment, taxes, interest and costs shall bedeemed adequate.
History: L. 1963, ch. 303, 60-2415;L. 1988, ch. 219, § 2; July 1.
60-2415.Sheriff's return of sale.(a) Certificate of purchase. The sheriff shall at once make areturn of all sales made under this article to the court. All taxes dueor delinquent shall be noted on the sheriff's return. If the court findsthe proceedings regular and in conformity with law and equity, it shallconfirm the same, direct the clerk to make such entry upon the journal andorder the sheriff to make to the purchaser the certificate of sale or deedprovided for in this article.
(b) Equity powers of court. The court may decline to confirm thesale where the bid is substantially inadequate, or in ordering a sale or aresale, may, in its discretion, if conditions or circumstances warrant andafter a proper hearing, fix a minimum or upset price at which the propertymust be bid in if the sale is to be confirmed; or the court may, uponapplication for the confirmation of the sale, if it has not theretoforefixed an upset price, conduct a hearing to establish the value of theproperty, and as a condition to confirmation require the fair value of theproperty be credited upon the judgment, interest, taxes and costs. A salefor the full amount of the judgment, taxes, interest and costs shall bedeemed adequate.
History: L. 1963, ch. 303, 60-2415;L. 1988, ch. 219, § 2; July 1.
