Indiana Code 26-3-8-15. Sale of personal property at physical location or through Internet; owner as buyer; proceeds of sale
(1) at the self-service storage facility or, if that facility is not a suitable place for a sale, at the suitable place nearest to where the property is held or stored; or
Terms Used In Indiana Code 26-3-8-15
- Lien: A claim against real or personal property in satisfaction of a debt.
- owner: means :
Indiana Code 26-3-8-6
- Personal property: All property that is not real property.
- personal property: means movable property not affixed to land. See Indiana Code 26-3-8-7
- Property: includes personal and real property. See Indiana Code 1-1-4-5
- renter: means :
Indiana Code 26-3-8-5
- self-service storage facility: means any real property designed and used for the renting of space under a rental agreement that provides a renter access to rented space for the storage and retrieval of personal property. See Indiana Code 26-3-8-9
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
(b) The owner may buy the personal property at any sale under this chapter.
(c) An owner may satisfy the owner’s lien from the proceeds of a sale under this chapter. If the proceeds of a sale under this chapter exceed the amount of the owner’s lien, the owner shall hold the balance for delivery, upon demand, to the renter. If the renter does not claim the balance of the proceeds within one (1) year after the sale, the balance shall be treated as unclaimed property under IC 32-34-1.5.
As added by P.L.265-1987, SEC.1. Amended by P.L.31-1995, SEC.6; P.L.2-2002, SEC.81; P.L.144-2014, SEC.7; P.L.141-2021, SEC.12.