Indiana § 36-1-11-4.2 Sale or transfer of real property not acquired through eminent domain
to promote an economic development project or facilitate compatible
land use planning

Indiana Statutes

§ 36-1-11-4.2 — Sale or transfer of real property not acquired through eminent domain to promote an economic development project or facilitate compatible land use planning

Indiana § 36-1-11-4.2

Title 36LOCAL GOVERNMENT

Art. 1GENERAL PROVISIONS

Ch. 11Disposal of Real or Personal Property

This text of Indiana § 36-1-11-4.2 (Sale or transfer of real property not acquired through eminent domain to promote an economic development project or facilitate compatible land use planning) 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 § 36-1-11-4.2 (2026).

Text

2.

(a)This section applies to a disposing agent who wants to sell or transfer real property not acquired through eminent domain procedures for any of the following purposes:

(1)To promote an economic development project.

(2)To facilitate compatible land use planning.

(b)The disposing agent shall first have the property appraised by two (2) appraisers. The appraisers must be:

(1)professionally engaged in making appraisals;

(2)licensed under IC 25-34.1; or

(3)employees of the political subdivision familiar with the value of the property.

(c)Subject to subsection (d), the disposing agent may:

(1)negotiate a sale or transfer; and

(2)dispose of the real property; at a value that is not less than the average of the two (2) appraisals under subsection (b).

(d)The disposing agent may di

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2. (a) This section applies to a disposing agent
who wants to sell or transfer real property not acquired through
eminent domain procedures for any of the following purposes:
(1) To promote an economic development project.
(2) To facilitate compatible land use planning.
(b) The disposing agent shall first have the property appraised by
two (2) appraisers. The appraisers must be:
(1) professionally engaged in making appraisals;
(2) licensed under IC 25-34.1; or
(3) employees of the political subdivision familiar with the value
of the property.
(c) Subject to subsection (d), the disposing agent may:
(1) negotiate a sale or transfer; and
(2) dispose of the real property;
at a value that is not less than the average of the two (2) appraisals
under subsection (b).
(d) The disposing agent may dispose of the real property for a value
that is not less than the average of the two (2) appraisals under
subsection (b) only after publishing a notice in accordance with IC 5-3-1 stating the amount of the offer to be accepted. The disposing
agent may reject all offers. If the disposing agent rejects all offers, the
disposing agent must make a written determination to reject all offers
explaining why all offers were rejected.