Indiana Code 14-17-2-5. Fee simple title created in the state
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Terms Used In Indiana Code 14-17-2-5
- Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
- Lien: A claim against real or personal property in satisfaction of a debt.
- Property: includes personal and real property. See Indiana Code 1-1-4-5
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- real property: include lands, tenements, and hereditaments. See Indiana Code 1-1-4-5
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
Sec. 5. If real property designated as conservation land has not been redeemed at the end of the two (2) year period, a fee simple title to the real property, unencumbered in any way except by the liens for school fund mortgages that are prior to the lien of the state for taxes, is created ipso facto in the state. All existing tax liens of the state upon the real property are considered terminated, and the county auditor shall so certify to the Indiana department of administration.
[Pre-1995 Recodification Citation: 4-17-11-2 part.]
As added by P.L.1-1995, SEC.10.