Indiana § 29-1-15-5 - Credit sales
Full text of Indiana Indiana Code § 29-1-15-5 — Credit sales, with citation guidance and answers to common questions.
§ 29-1-15-5. Credit sales
Sec. 5. In all sales of real or personal property, the court may authorize credit to be given by the personal representative for a term and for an amount of the purchase price each in the discretion of the court, the payment of which shall be secured by notes or bonds with approved sureties or by a purchase money mortgage. If credit is authorized, the order shall specify the time of payment, the minimum rate of interest on deferred payments and the manner in which such payments shall be secured. If the estate is solvent, credit may be extended by the personal representative for a time longer than one (1) year with the written consent of the distributees affected thereby.
Formerly: Acts 1953, c.112, s.1505; Acts 1971, P.L.410, SEC.1. As amended by P.L.9-2022, SEC.61.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 29-1-15-5
What does Indiana Code § 29-1-15-5 cover?
Section 29-1-15-5 ("Credit sales") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 29-1-15-5?
A common citation format is "Indiana Code § 29-1-15-5" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 29-1-15-5 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.