§ 32-34-4-5 — Property having aggregate value of at least $10; notice to debtor

Indiana § 32-34-4-5

• Jurisdiction: Indiana
• Title 32: PROPERTY
• Art. 34: LOST OR UNCLAIMED PERSONAL PROPERTY
• Ch. 4: Unclaimed Property in Possession of Repossessors of

Text

(a) If items of personal property having an
estimated aggregate value of at least ten dollars ($10) are discovered
within a vehicle that has been lawfully repossessed, the creditor must
notify the debtor as follows:
(1) The notice must be written.
(2) The notice must list each item of personal property having an
estimated value greater than five dollars ($5).
(3) The notice must include the estimated aggregate value of all
of the items of personal property.
(4) The notice must include a statement that if the debtor does not
claim the property within thirty (30) days after the notice was
sent, the personal property will become the property of the
creditor with no right of redemption by the debtor.
(5) The notice must be sent by certified mail.
(b) If the debtor does not claim the items of personal property
included in a notice given under subsection (a) not more than thirty
(30) days after the notice was mailed, the items of personal property
become the property of the creditor with no right of redemption by the
debtor.
[Pre-2002 Recodification Citation: 32-9-9-5.]

Legislative History

As added by P.L.2-2002, SEC.19.