Indiana Code 36-7-17-12. Property not applied for in successive drawings; sale; disposition of proceeds
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Sec. 12. (a) A property for which no one applies in two (2) successive drawings held under this chapter may be sold at public auction to the highest bidder.
(c) If any proceeds remain after payment of the costs under subsection (b), the proceeds shall be applied to the payment of taxes removed from the tax duplicate under IC 6-1.1-25-7.5(e).
(b) The proceeds of the sale of real property acquired under IC 6-1.1-25-7.5 shall be applied to the cost of the sale, including advertising and appraisal.
Terms Used In Indiana Code 36-7-17-12
- Appraisal: A determination of property value.
- Property: includes personal and real property. See Indiana Code 1-1-4-5
(d) If any proceeds remain after payment of the taxes under subsection (c), the proceeds shall be deposited in the county general fund.
[Pre-Local Government Recodification Citation: 18-7-21-11.]
As added by Acts 1981, P.L.309, SEC.36. Amended by P.L.87-1987, SEC.12; P.L.169-2006, SEC.77.