Indiana Code 36-1-11-16. Bid, purchase, receipt, or lease of property by ineligible persons; effect of ineligibility
(1) A person who owes delinquent taxes, special assessments, penalties, interest, or costs directly attributable to a prior tax sale on a tract of real property listed under IC 6-1.1-24-1.
Terms Used In Indiana Code 36-1-11-16
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Property: includes personal and real property. See Indiana Code 1-1-4-5
(3) A person who has any of the following relationships to a person, partnership, corporation, or legal entity described in subdivision (1):
(A) A partner of a partnership.
(B) A member of a limited liability company.
(C) An officer, director, or majority stockholder of a corporation.
(D) The person who controls or directs the activities or has a majority ownership in a legal entity other than a partnership or corporation.
(b) A person subject to this section may not bid on, purchase, receive, or lease a tract that is offered in a sale, exchange, or lease under this chapter.
(c) If a person purchases, receives, or leases a tract that the person was not eligible to purchase, receive, or lease under this section, the sale, transfer, or lease of the property is void and the county retains the interest in the tract it possessed before the sale, transfer, or lease of the tract.
As added by P.L.60-1988, SEC.36. Amended by P.L.342-1989(ss), SEC.37; P.L.98-2000, SEC.18; P.L.159-2020, SEC.75.