Real estate interest as personal assets; proceeds from sale of real
estate
Sec. 6. (a) Unless foreclosure shall have been completed and
redemption period shall have expired prior to the death of a decedent,
real property mortgages, the interest in the mortgaged premises
conveyed thereby, and the debt secured thereby, or any real property
acquired by the personal representative in settlement of a debt or
liability, or any real property sold by the decedent on written
contract, the purchase price of which shall not have been paid in full
prior to the death of the decedent, shall be deemed personal assets in
the hands of his personal representative and be distributed and
accounted for as such, but any sale, mortgage, lease or exchange of
any of such real property made after the death of the decedent shall
be made pursuant to IC 29-1-15, unless otherwise provided in the
will of the decedent.
(b) In all cases of a sale of real property by a personal
representative, upon order of the court the surplus of the proceeds of
such sale remaining on the final settlement of the account shall be
considered as real property and disposed of among the persons and
in the same proportions as the real property would have been if it had
not been sold.
(Formerly: Acts 1953, c.112, s.1306.) As amended by Acts 1982,
P.L.171, SEC.34.
Last modified: May 27, 2006