Indiana Code 32-30-12-2. Sale of mortgaged property ordered in all cases
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Terms Used In Indiana Code 32-30-12-2
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Property: includes personal and real property. See Indiana Code 1-1-4-5
Sec. 2. In the foreclosure of a mortgage, the sale of the mortgaged property shall be ordered in all cases.
[Pre-2002 Recodification Citation: 32-15-8-2.]
As added by P.L.2-2002, SEC.15.