Indiana § 29-1-15-5 Credit sales

Indiana Statutes

§ 29-1-15-5 — Credit sales

Indiana § 29-1-15-5

Art. 1PROBATE CODE

Ch. 15Sales, Mortgages, Leases, Exchanges─Personal and

This text of Indiana § 29-1-15-5 (Credit sales) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 29-1-15-5 (2026).

Text

In all sales of real or personal property, the
court may authorize credit to be given by the personal representative
for a term and for an amount of the purchase price each in the
discretion of the court, the payment of which shall be secured by notes
or bonds with approved sureties or by a purchase money mortgage. If
credit is authorized, the order shall specify the time of payment, the
minimum rate of interest on deferred payments and the manner in
which such payments shall be secured. If the estate is solvent, credit
may be extended by the personal representative for a time longer than
one (1) year with the written consent of the distributees affected
thereby.
Formerly: Acts 1953, c.112, s.1505; Acts 1971, P.L.410, SEC.1.
As amended by P.L.9-2022, SEC.61.

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In all sales of real or personal property, the
court may authorize credit to be given by the personal representative
for a term and for an amount of the purchase price each in the
discretion of the court, the payment of which shall be secured by notes
or bonds with approved sureties or by a purchase money mortgage. If
credit is authorized, the order shall specify the time of payment, the
minimum rate of interest on deferred payments and the manner in
which such payments shall be secured. If the estate is solvent, credit
may be extended by the personal representative for a time longer than
one (1) year with the written consent of the distributees affected
thereby.
Formerly: Acts 1953, c.112, s.1505; Acts 1971, P.L.410, SEC.1.
As amended by P.L.9-2022, SEC.61.