Indiana § 34-55-10-9 Personal and real property claimed as exemption; procedure

Indiana Statutes

§ 34-55-10-9 — Personal and real property claimed as exemption; procedure

Indiana·Title 34 CIVIL LAW AND PROCEDURE·Art. 55 EXECUTION OF JUDGMENTS·Ch. 10 Sales and Execution of Real Estate: Exemptions

(a)If the value of a debtor's interest in property for which an exemption is claimed exceeds the amount of the exemption, the property may be sold. However, the debtor must be paid an amount equal to the debtor's exemption in the property from the proceeds of the sale.

(b)In making the sale under subsection (a), the officer may not accept a bid unless the bid exceeds the exempt value of the property. If indebtedness secured by a valid lien is chargeable against the proceeds of the sale, a bid may not be accepted if the bid is less than the sum of the amount of the indebtedness secured by the lien and the exempt value of the property. [Pre-1998 Recodification Citation: 34-2-28-8.]

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(a) If the value of a debtor's interest in
property for which an exemption is claimed exceeds the amount of the
exemption, the property may be sold. However, the debtor must be paid
an amount equal to the debtor's exemption in the property from the
proceeds of the sale.
(b) In making the sale under subsection (a), the officer may not
accept a bid unless the bid exceeds the exempt value of the property.
If indebtedness secured by a valid lien is chargeable against the
proceeds of the sale, a bid may not be accepted if the bid is less than
the sum of the amount of the indebtedness secured by the lien and the
exempt value of the property.
[Pre-1998 Recodification Citation: 34-2-28-8.]

Indiana § 34-55-10-9 (Personal and real property claimed as exemption; procedure) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.