Indiana § 32-29-7-9 Sheriff prohibited from purchasing real estate at sheriff's sale; default
of purchaser

Indiana Statutes

§ 32-29-7-9 — Sheriff prohibited from purchasing real estate at sheriff's sale; default of purchaser

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

(a)A sheriff or an agent of the sheriff making a foreclosure sale under this chapter may not directly or indirectly purchase property sold by the sheriff or the sheriff's agent. If the purchaser of property sold on foreclosure fails to immediately pay the purchase money, the sheriff shall resell the property either on the same day without advertisement or on a subsequent day after again advertising in accordance with this chapter, as the judgment creditor directs. If the amount bid at the second sale does not equal the amount bid at the first sale, including the costs of the second sale, the first purchaser shall be liable for:

(1)the deficiency;

(2)damages not exceeding ten percent (10%); and

(3)interest and costs; all of which may be recovered in a court of proper jurisdiction by the

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(a) A sheriff or an agent of the sheriff making
a foreclosure sale under this chapter may not directly or indirectly
purchase property sold by the sheriff or the sheriff's agent. If the
purchaser of property sold on foreclosure fails to immediately pay the
purchase money, the sheriff shall resell the property either on the same
day without advertisement or on a subsequent day after again
advertising in accordance with this chapter, as the judgment creditor
directs. If the amount bid at the second sale does not equal the amount
bid at the first sale, including the costs of the second sale, the first
purchaser shall be liable for:
(1) the deficiency;
(2) damages not exceeding ten percent (10%); and
(3) interest and costs;
all of which may be recovered in a court of proper jurisdiction by the
sheriff.
(b) If the property is sold, the sheriff shall pay the proceeds as
provided in IC 32-30-10-14. Every sale made under this chapter is
made without right of redemption.
[Pre-2002 Recodification Citation: 32-8-16-5.]

Indiana § 32-29-7-9 (Sheriff prohibited from purchasing real estate at sheriff's sale; default of purchaser) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.