§ 36-7-38-13 — Startup inventory of properties

Within six (6) months after an eligible unit
has established a land bank under this chapter, the eligible unit shall
furnish the land bank with a list of real property:
(1) that is located in the territory of the land bank;
(2) for which the eligible unit holds:
(A) a tax sale certificate issued under IC 6-1.1-24; or
(B) a tax deed issued under IC 6-1.1-25; and
(3) that is not committed to a redevelopment project or for another
purpose.
At the time the eligible unit furnishes the list to the land bank, the
eligible unit shall offer to assign the tax sale certificates and convey the
real property described on the list to the land bank at no cost to the land
bank. For each tract or item of real property described on the list, the
offer expires six (6) months after the offer is made to the land bank,
unless the eligible unit specifies a longer period in the offer. If, for a
particular tract or item of real property on the list, the land bank accepts
the offer, the eligible unit may assign the tax sale certificate or convey
the real property, as applicable, to the land bank at no cost to the land
bank. If, for a particular tract or item of real property on the list, the
land bank rejects the offer, the eligible unit may dispose of the real
property as otherwise provided by law.

Legislative History

As added by P.L.211-2016, SEC.1.