PL 27-2008 (IN)

Effective Date: July 1, 2008. The Act amended code sections: IC 36-1-11-3, 36-1-11-4, 36-1-11-5.9 (added).

A Summary of the Changes to the Indiana Code Concerning Property

House Bill 1145 was designed to amend the Indiana Code under Chapter 11 of Title 36, Local Government, concerning local government's ability to dispose of personal and real property. The changes were imparted to allow property acquired through tax default to be more easily transferred or sold to nearby land owners. To accomplish this, the bill specifically amends Sections 36-1-11-3 and 36-1-11-4, and adds Section 36-1-11-5.9. Section 3 was amended to provide that it does not apply to the disposal of real property under, inter alia, the new Section 5.9. Normally Section 3 would require the approval of the executive or fiscal body of the political subdivision for sales conducted on property appraised at $50,000 or more. Section 4 was amended to provide that a disposing agent who wishes to sell or transfer real property must comply with Section 4 except as permitted by, inter alia, the new Section 5.9. Section 4 would normally require certain appraisal and bidding criteria to be met before a property could be sold through auction. These amendments exempt the limited sale under Section 5.9 from these provisions.

Section 5.9 was added to 36-1-11, and allows a disposing agent of a political subdivision to sell or transfer real property acquired by tax default without any consideration, or for nominal consideration, to an abutting landowner. If an agent wishes to transfer to an abutting landowner, the agent must send notice by certified mail to all abutting landowners, including the tracks for sale, key number, address, and must include a statement confirming that the agent is authorized to transfer for nominal consideration, that the property cannot be sold to someone ineligible under Section 16, and listing additional requirements for offers submitted by trusts. After no fewer than 14 days from the sending of the notice, the disposing agent shall conduct negotiation for sale if there is only one offer. If there are multiple offers, the agent must inform the other bidders of the highest bid and give them a single opportunity to submit another offer, then choosing the highest bid to negotiate sale of the tract.

Bill Number: 
House Bill 1145
Public Act or Public Law Number: 
PL 27-2008
By: ATG Underwriting Department | Posted on: Tue, 10/28/2008 - 6:13pm