Sec. 15. (a) If the court determines that:
(1) land is sold under section 12 of this chapter for cash; or
(2) land is sold under section 12 of this chapter for partial credit
and that the first or cash payment of the purchase price is paid;
the court shall order the commissioner appointed under section 14 of
this chapter, or some other person, to execute a conveyance to the
purchaser.
(b) A conveyance made under this section bars all claims of the
prior owners of the land as if the prior owners had executed the
conveyance.
(c) If partial credit is given for land sold under section 12 of this
chapter, the court shall, at the time the court orders the conveyance
to be made under this section, also order and direct that, concurrently
with the execution of the conveyance, the purchaser shall execute to
the commissioner a mortgage upon the land to secure the deferred
payments of the purchase price of the land.
(d) The commissioner shall place a mortgage executed under this
section upon record as required by law.

As added by P.L.2-2002, SEC.2.

Last modified: May 24, 2006