Sec. 1. (a) As used in this chapter, “model residence” means real property that consists of a single family residence, single family townhouse, or single family condominium unit that:

(1) has never been occupied as a principal residence; and

Terms Used In Indiana Code 6-1.1-12.6-1

  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • model residence: means real property that consists of a single family residence, single family townhouse, or single family condominium unit that:

    Indiana Code 6-1.1-12.6-1

  • Property: includes personal and real property. See Indiana Code 1-1-4-5
  • real property: include lands, tenements, and hereditaments. See Indiana Code 1-1-4-5
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
(2) is used for display or demonstration to prospective buyers or lessees for purposes of potential acquisition or lease of a similar type of residence, townhouse, or condominium unit on:

(A) the same property; or

(B) other property.

     (b) The term does not include any of the land on which the residence, townhouse, or condominium unit is located.

     (c) Real property described in subsection (a) that is used by the owner as the owner’s regular office space may not be considered a model residence for purposes of this chapter. However, this subsection does not prohibit the use of a garage or other space in the real property:

(1) to store or display material used to promote the real property or other similar properties; or

(2) as a space for meetings with prospective buyers or lessees.

As added by P.L.70-2008, SEC.1.

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