§ 29-1-15-11 — Petition; sale, mortgage, or lease of real property; order of court

Indiana § 29-1-15-11

• Jurisdiction: Indiana
• Art. 1: PROBATE CODE
• Ch. 15: Sales, Mortgages, Leases, Exchanges─Personal and

Text

(a) This section is subject to the provisions
of IC 29-1-7-15.1 concerning the sale of real property.
(b) A personal representative may file a petition to sell, mortgage or
lease any real property belonging to the estate. The petition shall set
forth the reasons for the application and describe the property involved.
The personal representative may apply for different authority as to
separate parts of the property; or the personal representative may apply
in the alternative for authority to sell, mortgage or lease. Upon the
filing of the petition, the court shall fix the time and place for the
hearing thereof. Notice of the hearing, unless waived, shall be given to
all heirs and lienholders, except holders of liens created by said heirs,
whose liens are to be extinguished or transferred to the proceeds of said
sale in case of intestacy and to all devisees and lienholders, except
holders of liens created by said devisees, whose liens are to be
extinguished or transferred to the proceeds of said sale in case of
testacy, and the notice shall state briefly the nature of the application
and shall be given as provided in IC 29-1-1-12. However, as to any real
property valued at not more than one thousand dollars ($1,000)
exclusive of any liens the court may, in its discretion, hear and act upon
the petition without notice to heirs or devisees. At the hearing and upon
satisfactory proofs, the court may order the sale, mortgage or lease of
the property described or any part thereof. When a claim secured by a
mortgage on real property is, under the provisions of this probate code,
payable at the time of distribution of the estate or prior thereto, the
court with the consent of the mortgagee may, nevertheless, order the
sale of the real property subject to the mortgage, but such consent shall
release the estate should a deficiency later appear.
Formerly: Acts 1953, c.112, s.1511; Acts 1955, c.258, s.6; Acts
1961, c.15, s.1; Acts 1975, P.L.288, SEC.29. As amended by
P.L.86-2018, SEC.212; P.L.184-2021, SEC.6.