Section 32-30-10-11 - Payment of principal, interest, and costs before final judgment; dismissal; payment after final judgment; stay(a) If: (1) a complaint is filed for the foreclosure of a mortgage;(2) any interest or installment of the principal is due, but no other installments are due; and(3) the defendant pays the court the principal and interest due, with costs, at any time before final judgment; the complaint must be dismissed.
(b) If the defendant pays the court the principal and interest due after the final judgment, the proceedings on the final judgment must be stayed. However, the stay may be removed upon a subsequent default in the payment of any installment of the principal or interest after the payment is due.(c) In the final judgment, the court shall direct at what time and upon what default any subsequent execution shall issue.Pre-2002 Recodification Citation: 32-15-6-8.
As added by P.L. 2-2002, SEC.15.