Indiana Code 36-7-17.1-9. Conveyances; effect of purchaser’s failure to fulfill agreement
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Terms Used In Indiana Code 36-7-17.1-9
- Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
- Property: includes personal and real property. See Indiana Code 1-1-4-5
Sec. 9. Before the vesting of a fee simple title in the purchaser under section 10 of this chapter, any material failure by the purchaser to carry out the agreement entered into under section 7 of this chapter nullifies the agreement and all right, title, and interest in the property immediately reverts to the agency, except that the agency may grant the purchaser a specified period, not to exceed two (2) years, to come into compliance with the terms of the agreement.
As added by P.L.118-2013, SEC.16.