32-29-7-2. "Economically feasible"

IN Code § 32-29-7-2 (2019) (N/A)
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Sec. 2. For the purposes of section 4(b) of this chapter, the sale of property by the sheriff through the services of an auctioneer is "economically feasible" if the court determines that:

(1) a reasonable probability exists that, with the use of the services of an auctioneer, a valid and enforceable bid will be made at a foreclosure for a sale price equal to or greater than the amount of the judgment and the costs and expenses necessary to its satisfaction, including the costs of the auctioneer; and

(2) the reasonable probability would not exist without the use of an auctioneer.

[Pre-2002 Recodification Citation: 32-8-16-1.3 part.]

As added by P.L.2-2002, SEC.14.