The referees may take separate mortgages and other securities for the whole or convenient portions of the purchase money of parts of the property that are directed by the court to be sold on credit for the:
(1) shares of any known owner of full age, in the name of the owner;
(2) shares of a minor, in the name of the guardian of the minor; and
(3) other shares, in the name of the clerk of the court of the county and the clerk's successors in office.