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 real
estate shall not be sold on execution until the rents and profits of the
real estate has been first offered for sale at public auction for a
period not exceeding seven (7) years. However, if the real estate does
not sell for a sum sufficient to satisfy the execution, the estate or
interest of the judgment debtor shall be sold by virtue of the
execution.
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 that
is reasonably likely to bring the highest net proceeds from the sale
after 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 involved
in the execution proceedings, the court in its order of execution shall
order the property sold by the sheriff through the services of an
auctioneer if the court determines that:
(1) a sale is economically feasible; or
(2) all the creditors in the proceedings agree to both that method
of 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 shall
conduct the auctioneer's activities as appropriate to bring the highest
bid for the property on execution. The advertising conducted by the
auctioneer 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 amount
stated in the court's order. However, if the sale by use of an
auctioneer has not been agreed to by the creditors in the proceedings
and the sale price is less than the amount set out in section 3 of this
chapter, the auctioneer is entitled only to the auctioneer's advertising
expenses plus one hundred dollars ($100).
(b) The amount due the auctioneer for the auctioneer's expenses
and 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 sale
proceeds.
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, the
appraisers 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 rents
and profits not exceeding seven (7) years shall be sold as will satisfy
the execution, and no more. The sheriff shall execute a lease to the
purchaser 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 of
an execution, shall be sold at public auction at:
(1) the courthouse of the county in which the real estate is
located; or
(2) another location that is reasonably likely to draw higher bids
for the real property.
(b) If the estate consists of several lots, tracts, and parcels, each
lot, tract, or parcel shall be offered for sale separately. No more of
any real estate shall be offered for sale than is necessary to satisfy the
execution, unless the real estate is not susceptible of division.
(c) When real estate which is not susceptible of division is
ordered to be sold on any decree or judgment, and the real estate is
traversed by the line between two (2) counties, the real estate may be
advertised 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 advertised
by the sheriff for at least twenty (20) days successively, next before
the 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 of
the county; and
(3) advertising the sale for three (3) weeks successively in a
newspaper:
(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 publication
of the notice in a newspaper of general circulation, published within
the sheriff's county, the sheriff may dispense with the publication of
the notice. The land may be sold without the required publication,
but the sheriff shall, in the sheriff's return of the writ, state the
sheriff's inability to procure the publication. The return has the same
effect in evidence as the official returns of sheriffs in other cases.
(c) In a notice under this section, the sheriff must include the
following:
(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 property
by street address, if any, or other common description of the
property other than legal description. However, a misstatement
in the informational statement under this subdivision does not
invalidate 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 any
personal property on execution shall be given for ten (10) days
successively 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 be
made.
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 personal
property is present and subject to the view of those persons attending
the sale.
(b) Personal property shall be sold at public auction, in such lots
and 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 sufficient
to satisfy the execution, the sheriff shall:
(1) make a further and sufficient levy, if sufficient property can
be 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 the
execution the amount of money, if any, levied by the former
execution.
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's
successor) or any officer authorized to discharge the duties of the
office shall execute and deliver to the purchaser a deed of
conveyance for the premises.
(b) A deed of conveyance delivered under subsection (a) is valid
and effectual to convey all the right, title, and interest of the
execution debtor to the purchaser, except any right of redemption, as
provided 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 deceased
purchaser
Sec. 15. If the purchaser of real estate upon execution, who has
paid the purchase money for the real estate, dies before a deed of
conveyance is executed to the purchaser, the sheriff shall convey the
real 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 notice
required by this chapter (or IC 34-1-39 before its repeal); or
(2) sells the real estate otherwise than in the manner prescribed
by 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 other
damages the party may have sustained.
(b) Damages under subsection (a) may be recovered from the
sheriff or from the sheriff and the sheriff's sureties in an action on the
sheriff'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 property
on execution directly or indirectly purchases the property, the sale is
void.
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 execution
fails or refuses to pay the purchase money, the purchaser is liable, on
motion made by the sheriff or the execution plaintiff or defendant in
the proper court on five (5) days notice, to a judgment for the amount
of:
(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 section
18 of this chapter, the sheriff may reexpose and sell the property on
the same or any subsequent day according to law. If the amount bid
at the second sale does not equal the amount bid at the first sale and
the 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 18
of this chapter.
(b) If the sheriff sells on a subsequent day, the sheriff shall
readvertise 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 the
county in which the judgment is rendered, return may be made by
mail. However, money may not be sent by mail, except by the
direction 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 will
satisfy the execution, including interest and costs, the sheriff shall
pay the overplus to the execution debtor on whom it was levied, or
to the execution debtor's assigns, unless the execution debtor is
notified of the existence of liens to the payment of which the
overplus should be applied. In that event, the execution debtor shall
return the money, which is to be disposed of as the court directs.
As added by P.L.1-1998, SEC.51.