Indiana § 32-23-12-9 Duties of trustee; review of lease; petition for partition

Indiana Statutes

§ 32-23-12-9 — Duties of trustee; review of lease; petition for partition

Indiana·Title 32 PROPERTY·Art. 23 CONVEYANCE OF PROPERTY INTERESTS·Ch. 12 Coal: Estates in Land

(a)The trustee shall:

(1)enter into negotiations with the plaintiff;

(2)execute a coal lease in favor of the plaintiff covering the interest of the defendant that reflects the findings and judgment of the circuit or superior court; and

(3)promptly prepare and file a report of the coal lease stating the terms of the lease and the payments received for the lease and give notice to all parties appearing of record.

(b)The circuit or superior court shall review the coal lease under subsection (a) to determine if the sale is in accordance with the court's findings and judgment. If the circuit or superior court approves the sale of the coal lease, the court shall:

(1)issue an order confirming the sale; and

(2)issue an order terminating the trust.

(c)If, before an order confirming the leas

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(a) The trustee shall:
(1) enter into negotiations with the plaintiff;
(2) execute a coal lease in favor of the plaintiff covering the
interest of the defendant that reflects the findings and judgment
of the circuit or superior court; and
(3) promptly prepare and file a report of the coal lease stating the
terms of the lease and the payments received for the lease and
give notice to all parties appearing of record.
(b) The circuit or superior court shall review the coal lease under
subsection (a) to determine if the sale is in accordance with the court's
findings and judgment. If the circuit or superior court approves the sale
of the coal lease, the court shall:
(1) issue an order confirming the sale; and
(2) issue an order terminating the trust.
(c) If, before an order confirming the lease pursuant to subsection
(b) is issued, a party to the proceedings files, in accordance with
subsection (d), a petition for partition under IC 32-17-4 applicable to
the coal land, whether solely for the coal estate or for estates in the
subject land in addition to and including the coal estate, the
proceedings under this chapter shall be stayed during the pendency of
the proceeding initiated under IC 32-17-4, and upon any final order of
partition or sale in that procceding, the proceedings under this chapter
shall be terminated.
(d) Any petition for partition under IC 32-17-4 applicable to the coal
land filed during the pendency of any petition filed under this chapter
shall be filed in the same court exercising jurisdiction over the petition
filed under this chapter. If any defendant in a proceeding under this
chapter files during the pendency of any proceeding under this chapter
a petition for partition under IC 32-17-4 applicable to the coal land, and
the petition for partition is subsequently dismissed or terminated prior
to a final order of partition or sale, the same defendant may not refile
a subsequent petition for partition applicable to the coal land under IC 32-17-4 until the proceedings under this chapter are concluded.
(e) If a petition for partition is filed under IC 32-17-4 after an order
confirming a lease pursuant to subsection (b) has been issued, any land
partitioned or sold shall be partitioned or sold subject to the lease.

Indiana § 32-23-12-9 (Duties of trustee; review of lease; petition for partition) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.