Indiana Foreclosure Laws

Attorney General's Office

219 State House
Indianapolis, IN 46204
Ph: (317) 232-6201
Fax: (317) 232-7979

Foreclosure Laws in Indiana

Judicial Foreclosure: Yes
Non-Judicial Foreclosure: No
Security Instruments: Mortgage
Right of Redemption: Yes. 3 Months
Deficiency Judgments: Yes. Lender's Decision
Time Frame: 150 Days
Public Notice: Complaint

Judicial foreclosure:

1. The lender sues the borrower to obtain and order to foreclose. Depending on the original date of execution of the mortgage, the lender must wait for three to twelve months before proceeding with the foreclosure. The owner may waive the time limit, but if time is waived, the lender loses any right to sue for a deficiency judgment.

2. The court issues a notice of sale to be published weekly by the sheriff for three consecutive weeks in a newspaper of general circulation, with the first publication date 30 days prior to the date of sale. The notice must also be served upon the owner and posted in three conspicuous places in the township in which the property is located.

3. The sale is held by the sheriff as a public auction between the hours of 10:00 AM and 4:00 PM on the date specified in the notice. The successful bidder receives a deed to the property.

Laws:

• Article 29 Mortgages Chapter 7 Foreclosure, Redemption, Sale, Right to Retain Possession
  Laws which regulate the foreclosure proceedings.

• Article 29 Mortgages Chapter 9. Name of and Service on Parties Defendant in Foreclosure Suits
  Law which requires the plaintiff to list a person to his/her suit.

• Article 30 Causes of Action concerning Real Property Chapter 10 Mortgage Foreclosure Actions
  Laws which regulates the judgment of foreclosure.

• Article 33 Liens on Real Property Chapter 4 Foreclosure and expiration of a mortgage or vendor’s lien

• Chapter 12 Judgements in Mortgage and Lien Actions Chapter 12. Judgments in Mortgage and Lien Actions
  Laws which regulates the disposition of a lien within a foreclosure.

• Indiana State Code
  *The Indiana Code is in the process of being updated to reflect changes made by legislation enacted during the 2005 Regular Session of the Indiana General Assembly