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Indiana Code Title 32. Property § 32-33-10.5-8

Current as of January 02, 2024 | Updated by Findlaw Staff

Sec. 8. (a) This section applies if a complaint is filed under section 7 of this chapter and the plaintiff recovers:

(1) a judgment in any sum;  or

(2) a judgment:

(A) declaring that an aircraft is abandoned or derelict;  and

(B) authorizing the disposal of the aircraft by means of a public auction and removal of the aircraft from the premises of a public-use airport or of a fixed-base operator.

(b) Any net proceeds resulting from the sale or disposal of an aircraft under this chapter shall be paid to:

(1) the owner of the aircraft and any other person having a legal or equitable interest in the aircraft, in proportion to each person's legal or equitable interest in the aircraft;  or

(2) if the owner of the aircraft or any other person having a legal or equitable interest in the aircraft cannot be found, to the attorney general as unclaimed property under IC 32-34-1.5.

(c) In an action brought under section 7 of this chapter, the plaintiff may also recover as part of the judgment in the action reasonable attorney's fees incurred by the plaintiff in bringing and prosecuting the action.

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Cite this article: FindLaw.com - Indiana Code Title 32. Property § 32-33-10.5-8 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-32-property/in-code-sect-32-33-10-5-8/

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