Indiana § 20-26-7-45 Legalization of certain school corporation actions in acquiring property
under deed with reverter clause; school corporation rights in case of
reversion

Indiana Statutes

§ 20-26-7-45 — Legalization of certain school corporation actions in acquiring property under deed with reverter clause; school corporation rights in case of reversion

Indiana·Title 20 EDUCATION·Art. 26 SCHOOL CORPORATIONS: GENERAL·Ch. 7 Property and Eminent Domain

(a)The actions of a school corporation taken before January 1, 1993, in acquiring any interest in real estate or a real estate improvement under a deed that contains a reverter clause that limits the use of the property by the school corporation are legalized.

(b)If a reversion occurs under a deed described in subsection (a), the school corporation is entitled to the improvements or the fair market value of the improvements made to the property by the school corporation.

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(a) The actions of a school corporation taken
before January 1, 1993, in acquiring any interest in real estate or a real
estate improvement under a deed that contains a reverter clause that
limits the use of the property by the school corporation are legalized.
(b) If a reversion occurs under a deed described in subsection (a),
the school corporation is entitled to the improvements or the fair
market value of the improvements made to the property by the school
corporation.

Indiana § 20-26-7-45 (Legalization of certain school corporation actions in acquiring property under deed with reverter clause; school corporation rights in case of reversion) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.