Indiana § 32-29-7-2 "Economically feasible"

Indiana Statutes

§ 32-29-7-2 — "Economically feasible"

Indiana·Title 32 PROPERTY·Art. 29 MORTGAGES·Ch. 7 Foreclosure ─ Redemption, Sale, Right to Retain

For the purposes of section 4(b) of this chapter, the sale of property by the sheriff through the services of an auctioneer is "economically feasible" if the court determines that:

(1)a reasonable probability exists that, with the use of the services of an auctioneer, a valid and enforceable bid will be made at a foreclosure for a sale price equal to or greater than the amount of the judgment and the costs and expenses necessary to its satisfaction, including the costs of the auctioneer; and

(2)the reasonable probability would not exist without the use of an auctioneer. [Pre-2002 Recodification Citation: 32-8-16-1.3 part.]

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For the purposes of section 4(b) of this chapter,
the sale of property by the sheriff through the services of an auctioneer
is "economically feasible" if the court determines that:
(1) a reasonable probability exists that, with the use of the
services of an auctioneer, a valid and enforceable bid will be
made at a foreclosure for a sale price equal to or greater than the
amount of the judgment and the costs and expenses necessary to
its satisfaction, including the costs of the auctioneer; and
(2) the reasonable probability would not exist without the use of
an auctioneer.
[Pre-2002 Recodification Citation: 32-8-16-1.3 part.]

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