Indiana Code 34-55-4-8. Purchaser’s rights regarding encumbered property
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Sec. 8. (a) Subject to subsection (b), where any property is sold subject to liens and encumbrances, the purchaser may:
(2) hold the property subject to be redeemed by the execution defendant, or the execution defendant’s heirs, or assigns, by paying to the purchaser, or the purchaser’s heirs or assigns, the purchase money, with interest.
(1) pay the liens and encumbrances and hold the property discharged from all claims of the execution defendant; or
Terms Used In Indiana Code 34-55-4-8
- Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
- Property: includes personal and real property. See Indiana Code 1-1-4-5
- Statute: A law passed by a legislature.
When redeemed, the purchaser shall have the growing crops and shall not be accountable for rents and profits, but the purchaser shall account for waste.
(b) This section does not deprive a party from the right to redeem when authorized by statute.
[Pre-1998 Recodification Citation: 34-1-37-8.]
As added by P.L.1-1998, SEC.51.