2014 Indiana Code TITLE 34. CIVIL LAW AND PROCEDURE ARTICLE 55. EXECUTION OF JUDGMENTS CHAPTER 5. PERSONAL PROPERTY TAKEN IN EXECUTION OF JUDGMENT
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IC 34-55-5
Chapter 5. Personal Property Taken in Execution of Judgment
IC 34-55-5-1
Return of property to execution defendant
Sec. 1. (a) Any personal property taken in execution may be
returned to the execution defendant by the sheriff, upon the delivery
by the defendant to the sheriff of a written undertaking described in
subsection (b).
(b) The written undertaking must be:
(1) payable to the execution plaintiff, with sufficient surety to be
approved by the sheriff; and
(2) to the effect that the property shall be delivered to the sheriff
at a time and place named in the undertaking, to be sold:
(A) according to law; or
(B) for the payment to the sheriff of:
(i) the appraised value of the property; or
(ii) if the property has not been appraised, the fair value of
the property.
As added by P.L.1-1998, SEC.51.
IC 34-55-5-2
Appraisal of property
Sec. 2. (a) Before the sheriff delivers any part of the property to
the defendant, the sheriff shall cause the property to be appraised in
the manner prescribed by law when an appraisement of the property
is required.
(b) The defendant may sell or dispose of the property, paying the
officer the full appraised value of the property.
As added by P.L.1-1998, SEC.51.
IC 34-55-5-3
Nondelivery of property; duty of sheriff to levy and sell
Sec. 3. In case of the nondelivery of the property according to the
undertaking, the sheriff shall levy upon and sell the property, or any
other property of the defendant, as soon as practicable, at any time
before the return day of the execution.
As added by P.L.1-1998, SEC.51.
IC 34-55-5-4
Forfeiture of undertaking; endorsement
Sec. 4. Upon the forfeiture of the written undertaking, the officer
shall immediately return it endorsed "forfeited" to the clerk's office
for the use of the plaintiff.
As added by P.L.1-1998, SEC.51.
IC 34-55-5-5
Actions on undertakings; damages
Sec. 5. The written undertaking is valid in law. An action may be
brought on the written undertaking, whenever the condition of the
written undertaking is broken, and on recovery. The value of the
property so taken, with damages not exceeding ten percent (10%) on
the value, shall be assessed in favor of the plaintiff. However, the
recovery may not exceed the amount due on the execution, and ten
percent (10%) on the principal.
As added by P.L.1-1998, SEC.51.
IC 34-55-5-6
Execution without stay
Sec. 6. On judgment obtained on the written undertaking,
execution shall issue immediately, without stay, returnable in thirty
(30) days, and the sheriff shall not return to the execution defendant
any property levied on, except upon payment of the judgment.
As added by P.L.1-1998, SEC.51.
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