Indiana Code 8-3-1.5-10. Assuring good title
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Terms Used In Indiana Code 8-3-1.5-10
- Department: refers to the Indiana department of transportation established under IC 8-23-2-1. See Indiana Code 8-3-1.5-1
- Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
- Rail properties: means assets or rights, owned, leased, or otherwise controlled by a railroad or other persons which are used, or useful, in rail transportation service; however, the term rail properties does not include any properties owned, leased or otherwise controlled by a railroad not in reorganization unless it consents to such property's inclusion in the particular transaction. See Indiana Code 8-3-1.5-1
Sec. 10. The department may take whatever steps are necessary in order to determine the absolute fee simple title ownership of all rail properties of any railroad within the State. The determination may include the status of the rail properties with respect to easements, rights-of-way, leases, reversionary rights, fee simple title ownership, and any and all related title matters. The department may retain attorneys, experts, or other assistants as is necessary to make the title determination.
Formerly: Acts 1975, P.L.79, SEC.1. As amended by Acts 1980, P.L.74, SEC.49.