"Economically feasible"
Sec. 2. For the purposes of section 4(b) of this chapter, the sale of
property by the sheriff 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.14.
Last modified: May 24, 2006