Indiana § 26-2-2-1 Mortgagee's power of sale proscribed; judicial sale

Indiana Statutes

§ 26-2-2-1 — Mortgagee's power of sale proscribed; judicial sale

Indiana § 26-2-2-1

Title 26COMMERCIAL LAW

Art. 2COMMERCIAL TRANSACTIONS

Ch. 2Mortgage of Household Goods

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Bluebook

Ind. Code § 26-2-2-1 (2026).

Text

No mortgage of household goods which may be
executed after March 8, 1897, shall authorize the mortgagee to sell
such mortgaged property, and any provision in any such mortgage
giving the mortgagee the power of sale shall be void. But every sale of
household goods to satisfy a mortgage thereon shall be under a judicial
proceeding, in which such mortgage shall be foreclosed in the circuit
or superior court.
Formerly: Acts 1897, c.176, s.1. As amended by P.L.152-1986,
SEC.301.

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No mortgage of household goods which may be
executed after March 8, 1897, shall authorize the mortgagee to sell
such mortgaged property, and any provision in any such mortgage
giving the mortgagee the power of sale shall be void. But every sale of
household goods to satisfy a mortgage thereon shall be under a judicial
proceeding, in which such mortgage shall be foreclosed in the circuit
or superior court.
Formerly: Acts 1897, c.176, s.1. As amended by P.L.152-1986,
SEC.301.