§ 32-29-7-4.5 — Sheriff's sale; prohibited bidders

Indiana § 32-29-7-4.5

• Jurisdiction: Indiana
• Title 32: PROPERTY
• Art. 29: MORTGAGES
• Ch. 7: Foreclosure ─ Redemption, Sale, Right to Retain

Text

5. (a) This section does not apply to a party
foreclosing on a mortgage executed on a tract offered for sale under
this chapter.
(b) This section applies to the following:
(1) A person who:
(A) owns a fee interest, a life estate interest, or the equitable
interest of a contract purchaser in an unsafe building or unsafe
premises; and
(B) is subject to an order issued under IC 36-7-9-5(a)(2), IC 36-7-9-5(a)(3), IC 36-7-9-5(a)(4), or IC 36-7-9-5(a)(5)
regarding which the conditions set forth in IC 36-7-9-10(a)(1)
through IC 36-7-9-10(a)(4) exist.
(2) A person who:
(A) owns a fee interest, a life estate interest, or the equitable
interest of a contract purchaser in an unsafe building or unsafe
premises; and
(B) is subject to an order issued under IC 36-7-9-5(a), other
than an order issued under IC 36-7-9-5(a)(2), IC 36-7-9-5(a)(3),
IC 36-7-9-5(a)(4), or IC 36-7-9-5(a)(5), regarding which the
conditions set forth in IC 36-7-9-10(b)(1) through IC 36-7-9-10(b)(4) exist.
(3) A person who is the defendant in a court action brought under
IC 36-7-9-18, IC 36-7-9-19, IC 36-7-9-20, IC 36-7-9-21, or IC 36-7-9-22 that has resulted in a judgment in favor of the plaintiff
and the unsafe condition that caused the action to be brought has
not been corrected.
(4) A person who has any of the following relationships to a
person, partnership, corporation, or legal entity described in
subdivision (1), (2), (3), or (5):
(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.
(5) A person who owes:
(A) delinquent taxes;
(B) special assessments;
(C) penalties;
(D) interest; or
(E) costs directly attributable to a prior tax sale;
on a tract or an item of real property listed under IC 6-1.1-24-1.
(6) A person who owns a fee interest, a life estate interest, or the
equitable interest of a contract purchaser in a vacant or abandoned
structure subject to an enforcement order under IC 32-30-6, IC 32-30-7, IC 32-30-8, or IC 36-7-9, or a court order under IC 36-7-37.
(7) A person who is an agent of a person described in this
subsection.
(8) A person who:
(A) is delinquent in the payment of any personal property taxes;
or
(B) is subject to an existing personal property tax judgment;
under IC 6-1.1-22-9.
(c) A person subject to this section may not bid on or purchase a
tract offered for sale under section 4 of this chapter.
(d) A business entity may not bid on or purchase a tract offered for
sale under section 4 of this chapter if:
(1) a person subject to this section:
(A) formed the business entity;
(B) joined with another person or party to form the business
entity; or
(C) joined the business entity as a proprietor, incorporator,
partner, shareholder, director, employee, or member; or
(2) a person subject to this section:
(A) becomes an agent, employee, or board member of the
business entity; or
(B) is not an attorney at law and represents the business entity
in a legal matter.

Legislative History

As added by P.L.112-2022, SEC.2.