"Economically feasible"; required findings
Sec. 2. For purposes of section 9 of this chapter, the sale of a
property through the services of an auctioneer is "economically
feasible" if the court determines that:
(1) a reasonable probability exists that, with the use of the
services of an auctioneer, a valid and enforceable bid will be
made at a foreclosure for a sale price equal to or greater than
the amount of the judgment and the costs and expenses
necessary to its satisfaction, including the costs of the
auctioneer; and
(2) the reasonable probability would not exist without the use
of an auctioneer.
As added by P.L.2-2002, SEC.15.
Last modified: May 24, 2006