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2017 Indiana Code
TITLE 26. Commercial Law
ARTICLE 2. COMMERCIAL TRANSACTIONS
CHAPTER 2. Mortgage of Household Goods
26-2-2-2. Restriction on mortgagee's right of possession
Universal Citation: IN Code § 26-2-2-2 (2017)
IC 26-2-2-2 Restriction on mortgagee's right of possession
Sec. 2. The mortgagee of household goods shall not be entitled to the possession of the mortgaged property unless the mortgage specially provides that the mortgagee shall have possession of the mortgaged property from the time the mortgage is executed until sale, as provided in this chapter, and the mortgagee takes actual possession of such property when the mortgage is executed and holds it continuously until sale. In all other cases, the possession of the mortgaged property shall remain in the mortgagor until he is divested of his title by sale, as provided in section 1 of this chapter.
Formerly: Acts 1897, c.176, s.2. As amended by P.L.152-1986, SEC.302.
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