§ 29-1-13-6 — Real estate interest as personal assets; proceeds from sale of real estate

Indiana § 29-1-13-6

• Jurisdiction: Indiana
• Art. 1: PROBATE CODE
• Ch. 13: Collection and Management of Assets

Text

(a) Unless foreclosure shall have been
completed and redemption period shall have expired prior to the death
of a decedent, real property mortgages, the interest in the mortgaged
premises conveyed thereby, and the debt secured thereby, or any real
property acquired by the personal representative in settlement of a debt
or liability, or any real property sold by the decedent on written
contract, the purchase price of which shall not have been paid in full
prior to the death of the decedent, shall be deemed personal assets in
the hands of his personal representative and be distributed and
accounted for as such, but any sale, mortgage, lease or exchange of any
of such real property made after the death of the decedent shall be
made pursuant to IC 29-1-15, unless otherwise provided in the will of
the decedent.
(b) In all cases of a sale of real property by a personal
representative, upon order of the court the surplus of the proceeds of
such sale remaining on the final settlement of the account shall be
considered as real property and disposed of among the persons and in
the same proportions as the real property would have been if it had not
been sold.
Formerly: Acts 1953, c.112, s.1306. As amended by Acts 1982,
P.L.171, SEC.34.