Indiana Code 29-1-7-15.2. Sale of real property; permitted use of proceeds
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Sec. 15.2. (a) This section applies to real property subject to section 15.1(b) of this chapter, if the personal representative sells the real property to:
(2) pay costs of administration; or
(1) satisfy a lien of record in the county in which the real property is located;
Terms Used In Indiana Code 29-1-7-15.2
- Lien: A claim against real or personal property in satisfaction of a debt.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Property: includes personal and real property. See Indiana Code 1-1-4-5
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- real property: include lands, tenements, and hereditaments. See Indiana Code 1-1-4-5
(3) use the sale proceeds for any other payment or distribution approved by the written consent of a majority in interest of the distributees under IC 29-1-10-21.
(b) The proceeds of the sale of real property described in subsection (a) will retain the same protection that section 15.1(b) of this chapter provides to real property with respect to payment of any debt or obligation of the deceased person not described in subsection (a).
As added by P.L.163-2018, SEC.7. Amended by P.L.184-2021, SEC.2.