Section 32-29-7-9 - Sheriff prohibited from purchasing real estate at sheriff's sale; default of purchaser(a) A sheriff or an agent of the sheriff making a foreclosure sale under this chapter may not directly or indirectly purchase property sold by the sheriff or the sheriff's agent. If the purchaser of property sold on foreclosure fails to immediately pay the purchase money, the sheriff shall resell the property either on the same day without advertisement or on a subsequent day after again advertising in accordance with this chapter, as the judgment creditor directs. If the amount bid at the second sale does not equal the amount bid at the first sale, including the costs of the second sale, the first purchaser shall be liable for:(2) damages not exceeding ten percent (10%); and(3) interest and costs; all of which may be recovered in a court of proper jurisdiction by the sheriff.
(b) If the property is sold, the sheriff shall pay the proceeds as provided in IC 32-30-10-14. Every sale made under this chapter is made without right of redemption.Pre-2002 Recodification Citation: 32-8-16-5.
Amended by P.L. 45-2016, SEC. 8, eff. 7/1/2016.As added by P.L. 2-2002, SEC.14.