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 § 20-26-7-45

Title 20EDUCATION

Art. 26SCHOOL CORPORATIONS: GENERAL

Ch. 7Property and Eminent Domain

This text of 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) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 20-26-7-45 (2026).

Text

(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.