§ 29-1-19-15 — Real estate acquisition

(a) The court may authorize the purchase of
the entire fee simple title to real estate in Indiana in which the guardian
has no interest, but only as a home for the ward, or to protect the ward's
interest, or (if the ward is not a minor) as a home for the ward's
dependent family.
(b) Such purchase of real estate shall not be made except upon the
entry of an order of the court after hearing upon verified petition. A
copy of the petition shall be furnished the proper office of the
department and notice of hearing on the petition shall be given the
office as provided in the case of hearing on a guardian's account.
(c) Before authorizing such investment the court shall require
written evidence of value and of title and of the advisability of
acquiring such real estate. Title shall be taken in the ward's name.
(d) This section does not limit the right of the guardian:
(1) on behalf of the ward to bid and to become the purchaser of
real estate at a sale of the real estate pursuant to decree of
foreclosure of lien held by or for the ward, or at a trustee's sale, to
protect the ward's right in the property so foreclosed or sold; or
(2) if such be necessary to protect the ward's interest and upon
prior order of the court in which the guardianship is pending, to
agree with co-tenants of the ward for a partition in kind, or to
purchase from co-tenants the entire undivided interests held by
them, or to bid and purchase the same at a sale under a partition
decree, or to compromise adverse claims of title to the ward's
realty.
Formerly: Acts 1953, c.112, s.2015. As amended by P.L.1-1990,
SEC.272.