Indiana Code 32-29-1-3. Sale of premises
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Terms Used In Indiana Code 32-29-1-3
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgagee: The person to whom property is mortgaged and who has loaned the money.
- Property: includes personal and real property. See Indiana Code 1-1-4-5
Sec. 3. A mortgage of real estate, including an instrument having the legal effect of a mortgage, may not authorize the mortgagee to sell the mortgaged property. The sale of mortgaged property by the mortgagee may only be made under a judicial proceeding.
[Pre-2002 Recodification Citation: 32-8-11-3.]
As added by P.L.2-2002, SEC.14.