Sec. 9. (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.]
As added by P.L.1-1998, SEC.51. Amended by P.L.179-2005, SEC.17.
Structure Indiana Code
Title 34. Civil Law and Procedure
Article 55. Execution of Judgments
Chapter 10. Sales and Execution of Real Estate: Exemptions
34-55-10-0.2. Application of Certain Amendments to Prior Law
34-55-10-1. Bankruptcy Exemptions
34-55-10-2. Bankruptcy Exemptions; Limitations
34-55-10-2.5. Exemption Amounts; Adoption of Rules
34-55-10-3. Designation of Exempt Property by Debtor
34-55-10-4. Appraisal of Exempt Property; Selection of Appraisers
34-55-10-5. Schedule of Exempt Property; Affidavit of Appraisers
34-55-10-6. Delivery of Schedule of Exempt Property; Second or Subsequent Appraisals
34-55-10-8. Personal Property Only Claimed as Exemption; Procedure
34-55-10-9. Personal and Real Property Claimed as Exemption; Procedure
34-55-10-11. Division of Real Property Claimed as Exemption; Exemption of Homestead
34-55-10-12. Debtor's Schedule Required
34-55-10-13. Absence of Execution Defendant; Rights of Spouse