§ 14-17-2-10 — Payment in lieu of redemption required upon judgment invalidating title in the state

Indiana § 14-17-2-10

• Jurisdiction: Indiana
• Art. 17: PROPERTY ACQUISITION
• Ch. 2: Acquisition of Tax Delinquent Land for Conservation

Text

(a) A decree or judgment holding a title of
the state invalid must provide that the successful party pay to the court
an amount determined by the court to be approximately the amount that
the party would be required to pay to redeem the real property on the
date of the judgment or decree if the real property had continued to be:
(1) delinquent in taxes while in the possession of the state; and
(2) taxable while in the possession of the state;
plus the reasonable value of improvements, costs of administration, fire
protection, and other benefits conferred upon the real property by the
state after the expiration of the redemption period.
(b) A statute enacted granting redemption concessions to taxpayers
does not apply to the computation of the amount prescribed by
subsection (a) unless the statute specifically states that the statute
applies.
(c) Upon payment of the amount, the amount shall be distributed to
interested parties and taxing agencies according to their interests and
as provided by the decree or judgment.
[Pre-1995 Recodification Citation: 4-17-11-6.]

Legislative History

As added by P.L.1-1995, SEC.10.