Indiana Code 32-34-4-6. Property having aggregate value of less than $10
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Terms Used In Indiana Code 32-34-4-6
- creditor: means the person who has lawfully repossessed a vehicle. See Indiana Code 32-34-4-1
- debtor: means the person from whom a vehicle is repossessed. See Indiana Code 32-34-4-2
- Personal property: includes goods, chattels, evidences of debt, and things in action. See Indiana Code 1-1-4-5
- Personal property: All property that is not real property.
- Property: includes personal and real property. See Indiana Code 1-1-4-5
- value: means the amount of money that a reasonable person would estimate a willing buyer would pay for an item of personal property. See Indiana Code 32-34-4-3
- vehicle: means a motor vehicle or a watercraft. See Indiana Code 32-34-4-4
Sec. 6. If items of personal property having an aggregate value of less than ten dollars ($10) are discovered within a vehicle that has been lawfully repossessed, the items of personal property are the property of the creditor with no right of redemption by the debtor.
[Pre-2002 Recodification Citation: 32-9-9-6.]
As added by P.L.2-2002, SEC.19.