Indiana Code 34-55-6-7. Rents and profits; maximum term of lease
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Terms Used In Indiana Code 34-55-6-7
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Sheriff: means the sheriff of the county or another person authorized to perform sheriff's duties. See Indiana Code 1-1-4-5
Sec. 7. If rents and profits are sold under section 6 of this chapter (or IC 34-1-39-2 before its repeal), only the number of years of rents and profits not exceeding seven (7) years shall be sold as will satisfy the execution, and no more. The sheriff shall execute a lease to the purchaser for the term sold.
[Pre-1998 Recodification Citation: 34-1-39-3.]
As added by P.L.1-1998, SEC.51.