Sec. 2. For purposes of section 9 of this chapter, the sale of a property through the services of an auctioneer is "economically feasible" if the court determines that:
(1) a reasonable probability exists that, with the use of the services of an auctioneer, a valid and enforceable bid will be made at a foreclosure for a sale price equal to or greater than the amount of the judgment and the costs and expenses necessary to its satisfaction, including the costs of the auctioneer; and
(2) the reasonable probability would not exist without the use of an auctioneer.
[Pre-2002 Recodification Citation: 32-15-6-6.5 part.]
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