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FORECLOSURE OF REAL ESTATE MORTGAGES AND LIENS
(IC32-8-16-6-1) through IC 32-8-16-6. 5)
When Process May Issue
Unless otherwise ordered by the court, judicial
foreclosure of all liens upon real estate will be conducted
under the same rules and with the sale proceedings as foreclosures of mortgages.
In proceedings for the
foreclosure of any mortgage executed on or after July, 1975, the court may not
issue process for the
execution of judgment or decree of sale for a period of three months from the
time of the filing of the
complaint. However, in proceedings where the mortgage was executed before
January 1, l958, the
process shall not issue for at least twelve months, and where the mortgage was
executed after December
31, l957 and before July 1, 1975, the period shall be six months.
The owner of real estate subject to foreclosure may file with the clerk a
waiver of these time limitations.
Consent of the judgment holder shall be endorsed on the waiver which consent, if
given, must also
release the debtor from any personal liability. Upon filing, process must
issue immediately.
The Sheriff's Duties upon Execution and
Sale of the Mortgaged Real Estate
PROCESS
A copy of the judgment and decree of sale is certified by
the clerk, sealed with the seal of the court, and
issued to the Sheriff. The Sheriff must proceed to sell enough of the real
estate to satisfy the judgment,
interest and costs.
POSSESSION OF THE PROPERTY
The Sheriff is entitled to possess personal property even
though the mortgage agreement itself says that
the mortgagee is entitled to possession in case the property is levied upon.
NOTICE
Notice of the sale must be advertised by publication once
each week for three weeks in a daily or weekly
newspaper which has been a paper of general circulation, printed in the English
language, and published
in the county where the real estate is situated. Notice is also made by
posting written notices in at least
three public places in the township in which the real estate is situated, and at
the courthouse door. The
first of the publications must be made at least thirty days before the date of
the sale. A notice of sale
must contain a statement, for informational purposes only, of the location of
each property by street
address, if any, or other common description of the property other than legal
description.
Sale
The Sheriff must sell property on foreclosure in a manner
that is reasonably likely to bring the highest
net proceeds from the sale after deducting the expenses of the offer and sale.
The whole body of the
mortgaged real estate should be offered for sale, unless the court orders
otherwise. It is not necessary,
unless ordered by the court, to offer first the rents and profits, or to offer
separate parcels. If part of the
judgment, interest or costs remains unsatisfied, the Sheriff is required to levy
the residue on other
property of the judgment debtor. If the proceeds of the sale exceed the
amount of the judgment, interest
and costs, the excess should be paid to the clerk of the court for disbursement
by the court.
SHERIFF'S DEED
Immediately after the sale, the Sheriff should execute and
deliver to the purchaser a deed of conveyance
of the premises. There is no right of redemption after sale of mortgaged
premises.
Return
After executing the deed to the purchaser, the Sheriff
should make a return of the execution. In all cases
where a foreclosure or execution sale of realty is not confirmed by the court,
the Sheriff is required to
make a record of his actions in his return to be filed promptly with the record
of the case.
RANDOLPH COUNTY SHERIFF SALE POLICY
All Sheriff Sales are conducted at the Sheriff's Office
located at 155 E. South St. Winchester
Indiana. All Sales will be conducted in an open bid format. The
successful bidder must have,
cash, certified check, or money order for the full amount at the time of the
sale.
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