Sec. 11. (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.]
As added by P.L.2-2002, SEC.15.
Structure Indiana Code
Article 30. Causes of Action Concerning Real Property
Chapter 10. Mortgage Foreclosure Actions
32-30-10-0.2. Application of Certain Amendments to Prior Law
32-30-10-1. "Auctioneer" Defined
32-30-10-2. "Economically Feasible"; Required Findings
32-30-10-3. Mortgagee's Right to Foreclose if Mortgagor Defaults; Venue
32-30-10-5. Judgment of Foreclosure; Personal Judgment; Sale of Property
32-30-10-6. Satisfaction of Judgment; Recording; Recorder's Fee
32-30-10-7. Balance Due and Costs That Remain Unsatisfied Levied on Any Property of Debtor
32-30-10-9. Manner of Sale; Use of Auctioneer; Auctioneer's Fee
32-30-10-10. Mutually Exclusive Actions
32-30-10-12. Sale of Property in Parcels
32-30-10-13. Endorsement of an Execution Issued on a Judgment
32-30-10-14. Application of Proceeds of Sale; Disposition of Excess Proceeds