§ 1-17-338 — Court order to sell land on time; terms of sale

When premises are ordered to be sold and having been twice
advertised and offered for sale remain unsold for lack of
bidders, on motion of the plaintiff or defendant the court from
which the order of sale issued shall order a new appraisement,
and may also order that the land be sold on time with one-third
(1/3) cash in hand, one-third (1/3) in nine (9) months from the
day of sale, and the remaining one-third (1/3) in eighteen (18)
months from the day of sale. Deferred payments shall draw
interest and be secured by a mortgage on the premises.