Indiana Code 32-30-3.1-6. Tenants in common; failure of plaintiff and defendant to make required payments
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Terms Used In Indiana Code 32-30-3.1-6
- Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
- Plaintiff: The person who files the complaint in a civil lawsuit.
- Property: includes personal and real property. See Indiana Code 1-1-4-5
- real property: include lands, tenements, and hereditaments. See Indiana Code 1-1-4-5
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
Sec. 6. If the plaintiff does not pay the defendant the appraised value of the improvements to the real property under section 4 of this chapter and the defendant does not pay the plaintiff the appraised value of the real property under section 5 of this chapter within the time fixed by the court, the parties will be held to be tenants in common of all the real property, including the improvements, each holding an interest proportionate to the value of the party’s property as determined under section 5 of this chapter.
[Pre-2002 Recodification Citation: 32-15-3-6.]
As added by P.L.2-2002, SEC.15.