Indiana Code 6-1.1-24-8. Failure to pay bid; effect
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Terms Used In Indiana Code 6-1.1-24-8
- Attorney: includes a counselor or other person authorized to appear and represent a party in an action or special proceeding. See Indiana Code 1-1-4-5
- 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.
style=”font-size: 10pt”> Sec. 8. When one who purchases real property at a tax sale fails to pay the bid, the real property shall again be offered for sale. A purchaser who fails to pay the bid shall pay a civil penalty of twenty-five percent (25%) of the amount of the bid. The county prosecuting attorney shall initiate an action in the name of the state treasurer to recover the civil penalty. Amounts collected under this section shall be deposited in the county general fund.
[Pre-1975 Property Tax Recodification Citation: 6-1-56-8.]
Formerly: Acts 1975, P.L.47, SEC.1. As amended by P.L.139-2001, SEC.7; P.L.89-2007, SEC.8.