Sec. 14. The value of the property for the purposes of a sale of real property pursuant to section 3 and subsequent sections of this chapter shall be the fair market value filed with the inventory unless the court directs that the property be appraised or reappraised, as the case may be. In the event appraisal is ordered by the court, or in the case of a lease pursuant to such sections of the probate code, the property shall be appraised at its fair market value or its fair market rental value, as the case may be, in a manner considered appropriate by the court.
Ind. Code § 29-1-15-14
Fair market value; appraisal; reappraisal
Known as the Probate Code
The act spans §§ 29-1-10-0.1 to 29-1-9-3 (324 sections).
Formerly: Acts 1953, c.112, s.1514; Acts 1975, P.L.288, SEC.31.
Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.