(a) The owner may redeem from the purchaser any time within one (1) year after the sale by paying the purchaser the amount paid by the purchaser with twenty percent (20%) thereon, which redemption shall be noted upon the margin of the decree by the purchaser.
(b)
(1) If the purchaser cannot be found, the court may redeem by paying the amount to the clerk of the court wherein the decree is rendered, who shall then note the redemption as aforesaid.
(2) The clerk shall hold the redemption money subject to the order of the purchaser, free of charge or commission, and pay it over on demand.
(3) If the redemption money is not called for in twenty (20) days, the clerk shall advertise the receipt of the money by a notice inserted one (1) time in some newspaper published in the county.
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