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House Bill 1122


House Bill 1122

ARCHIVE (2010)

Latest Information

 

DIGEST OF HB1122 (Updated March 1, 2010 12:02 pm - DI 84)


Abatement of vacant or abandoned structures. Combines two separate Indiana Code provisions concerning the presuit notice required in residential foreclosure proceedings into one section. Repeals one of the provisions being combined. Provides that the presuit notice must inform the debtor that if the creditor obtains a foreclosure judgment, the debtor has a right to do the following before a sheriff's sale is conducted: (1) Appeal a finding of abandonment by a court. (2) Redeem the real estate from the judgment. (3) Retain possession of the property, subject to certain conditions. Provides that an enforcement authority that has issued an abatement order for a vacant or abandoned structure may under certain conditions file a praecipe for the sale of the property with the clerk of the county after 180 days have elapsed from the date a foreclosure judgment and decree is filed, if the party that is entitled to enforce the judgment has not itself filed a praecipe.
Current Status:
 Law Enacted
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