Indiana Code 6-1.1-25-7. Termination of purchaser’s lien
(1) purchaser;
Terms Used In Indiana Code 6-1.1-25-7
- Lien: A claim against real or personal property in satisfaction of a debt.
- Property: includes personal and real property. See Indiana Code 1-1-4-5
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- real property: include lands, tenements, and hereditaments. See Indiana Code 1-1-4-5
(3) purchaser of the certificate of sale under IC 6-1.1-24;
fails to file the petition within the period provided in section 4.6 of this chapter, that person’s lien against the real property terminates at the end of that period. However, this section does not apply if the state or a political subdivision is the holder of the certificate of sale.
(b) If the notice under section 4.5 of this chapter is not given within the period specified in section 4.5(a)(3) or 4.5(c)(3) of this chapter, the lien of the:
(1) purchaser of the property; or
(2) purchaser of the certificate of sale under IC 6-1.1-24;
against the real property terminates at the end of that period.
[Pre-1975 Property Tax Recodification Citation: 6-1-57-6.]
Formerly: Acts 1975, P.L.47, SEC.1. As amended by P.L.87-1987, SEC.9; P.L.61-1991, SEC.4; P.L.37-1992, SEC.5; P.L.39-1994, SEC.19; P.L.31-1994, SEC.7; P.L.2-1995, SEC.28; P.L.124-1998, SEC.9; P.L.139-2001, SEC.19; P.L.170-2003, SEC.13; P.L.251-2015, SEC.25.