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IN HB1588
Bill
Status
1/20/2015
Primary Sponsor
Philip GiaQuinta
Click for details
AI Summary
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Amends IC 32-29-7-3 to allow enforcement authorities that issued abatement orders to file for sheriff's sales of foreclosed properties under specified conditions.
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Enforcement authorities may file a praecipe for sale if an initial praecipe was filed and canceled and no sale occurs within 180 days after the later of: the judgment and decree filing or expiration of three months from complaint filing.
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Sales cannot proceed if otherwise prohibited by law, subject to voluntary statewide foreclosure moratoriums, or covered by written agreements between property owners and enforcement parties that delay the sale.
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Sheriff must schedule the sale within 120 days of receiving the certified judgment and must advertise weekly for three consecutive weeks with first publication at least 30 days before sale date.
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Effective July 1, 2015.
Legislative Description
Mortgage foreclosures. Amends the statute governing the foreclosure of mortgaged real estate to permit an enforcement authority that has issued an abatement order with respect to foreclosed property to file a praecipe for a sheriff's sale of the property if a person files a praecipe for sale, cancels the sale, and a sale does not take place within 180 days after the later of: (1) the filing of the judgment and decree; or (2) the elapse of three months after the date the complaint was filed.
Last Action
First Reading: referred to Committee on Judiciary
1/20/2015