Learn About The Law
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Current as of January 02, 2024 | Updated by Findlaw Staff
Sec. 37. (a) Subject to section 38 of this chapter, not earlier than three (3) years after receipt of property presumed abandoned, the attorney general may sell the property.
(b) Before selling property under subsection (a), the attorney general must give notice to the public of:
(1) the date of the sale; and
(2) a reasonable description of the property.
(c) A sale under subsection (a) must be to the highest bidder:
(1) at public sale at a location in this state which the attorney general determines to be the most favorable market for the property;
(2) on the Internet; or
(3) on another forum the attorney general determines is likely to yield the highest net proceeds of sale.
(d) The attorney general may decline the highest bid at a sale under this section and reoffer the property for sale if the attorney general determines the highest bid is insufficient.
(e) If a sale held under this section is to be conducted other than on the Internet, the attorney general must publish at least one (1) notice of the sale, at least three (3) weeks but not more than five (5) weeks before the sale, in a newspaper of general circulation in the county in which the property is sold.
Cite this article: FindLaw.com - Indiana Code Title 32. Property § 32-34-1.5-37 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-32-property/in-code-sect-32-34-1-5-37/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Search our directory by legal issue
Enter information in one or both fields (Required)