§ 34-55-4-8 — Purchaser's rights regarding encumbered property

(a) Subject to subsection (b), where any
property is sold subject to liens and encumbrances, the purchaser may:
(1) pay the liens and encumbrances and hold the property
discharged from all claims of the execution defendant; or
(2) hold the property subject to be redeemed by the execution
defendant, or the execution defendant's heirs, or assigns, by
paying to the purchaser, or the purchaser's heirs or assigns, the
purchase money, with interest.
When redeemed, the purchaser shall have the growing crops and shall
not be accountable for rents and profits, but the purchaser shall account
for waste.
(b) This section does not deprive a party from the right to redeem
when authorized by statute.
[Pre-1998 Recodification Citation: 34-1-37-8.]

Legislative History

As added by P.L.1-1998, SEC.51.