Indiana Code 4-20.5-7-10. Transfer to political subdivision by gift or sale; preference to political subdivisions

Sec. 10. (a) Section 15 of this chapter does not apply to the transfer of property to a political subdivision under this section.

Ask a legal question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
Property: includes personal and real property. See Indiana Code 1-1-4-5

(b) State property may be transferred to a political subdivision.

(c) The property may be transferred to the political subdivision as a gift or for the price as the state and the political subdivision determine.

(d) The state shall give preference to political subdivision requests for the property.

As added by P.L.7-1993, SEC.7. Amended by P.L.39-1995, SEC.4.