§ 32-30-10-11 — Payment of principal, interest, and costs before final judgment; dismissal; payment after final judgment; stay

Indiana § 32-30-10-11

• Jurisdiction: Indiana
• Title 32: PROPERTY
• Art. 30: CAUSES OF ACTION CONCERNING REAL
• Ch. 10: Mortgage Foreclosure Actions

Text

(a) If:
(1) a complaint is filed for the foreclosure of a mortgage;
(2) any interest or installment of the principal is due, but no other
installments are due; and
(3) the defendant pays the court the principal and interest due,
with costs, at any time before final judgment;
the complaint must be dismissed.
(b) If the defendant pays the court the principal and interest due
after the final judgment, the proceedings on the final judgment must be
stayed. However, the stay may be removed upon a subsequent default
in the payment of any installment of the principal or interest after the
payment is due.
(c) In the final judgment, the court shall direct at what time and
upon what default any subsequent execution shall issue.
[Pre-2002 Recodification Citation: 32-15-6-8.]

Legislative History

As added by P.L.2-2002, SEC.15.