Indiana § 32-31-3-19 Sale of property; liability for deposits; exceptions

Indiana Statutes

§ 32-31-3-19 — Sale of property; liability for deposits; exceptions

Indiana·Title 32 PROPERTY·Art. 31 LANDLORD-TENANT RELATIONS·Ch. 3 Security Deposits

(a)Unless otherwise agreed, if a landlord conveys, in a good faith sale to a bona fide purchaser, property that includes a dwelling unit subject to a rental agreement, the landlord is relieved of liability under law or the rental agreement as to events occurring after written notice to the tenant of the conveyance. However, for one (1) year after giving notice of the conveyance, the landlord remains liable to the tenant for the security deposit to which the tenant is entitled under section 14 of this chapter unless:

(1)the purchaser acknowledges that the purchaser has assumed the liability of the seller by giving notice to the tenant; and

(2)upon conveyance the seller transfers the security deposit to the purchaser.

(b)Unless otherwise agreed, a manager of a dwelling unit is relieved o

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(a) Unless otherwise agreed, if a landlord
conveys, in a good faith sale to a bona fide purchaser, property that
includes a dwelling unit subject to a rental agreement, the landlord is
relieved of liability under law or the rental agreement as to events
occurring after written notice to the tenant of the conveyance.
However, for one (1) year after giving notice of the conveyance, the
landlord remains liable to the tenant for the security deposit to which
the tenant is entitled under section 14 of this chapter unless:
(1) the purchaser acknowledges that the purchaser has assumed
the liability of the seller by giving notice to the tenant; and
(2) upon conveyance the seller transfers the security deposit to the
purchaser.
(b) Unless otherwise agreed, a manager of a dwelling unit is
relieved of any liability the manager might have under law or the rental
agreement as to events occurring after written notice to the tenant of
the termination of the manager's management.
[Pre-2002 Recodification Citation: 32-7-5-19.]

Indiana § 32-31-3-19 (Sale of property; liability for deposits; exceptions) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.