Loading chat...
IN HB1353
Bill
Status
1/16/2018
Primary Sponsor
Karen Engleman
Click for details
AI Summary
HB 1353 Summary
-
Increases interest rate on tax sale redemptions from 5% per annum to the statutory judgment rate (8% per annum) for amounts exceeding the minimum bid and for taxes/assessments paid by the purchaser, effective for sales after June 30, 2018.
-
Changes the redemption period for property where a county executive acquires a lien after a failed tax sale from 120 days to 45 days after notice is mailed.
-
Repeals most of the tax sale surplus disclosure statute (IC 32-21-8), retaining only the prohibition on county auditors endorsing conveyance documents for property sold during the redemption period unless the purchaser has redeemed the property.
-
Modifies procedures for property conveyance during the redemption period, requiring compliance with IC 32-21-8-7 when a property is conveyed before redemption expires.
-
Effective July 1, 2018.
Legislative Description
Tax sale redemptions. Makes changes to the procedure that applies to real property that has been sold at a tax sale if the owner of the real property conveys the property during the redemption period. Changes the redemption period that applies to real property for which a county executive acquires a certificate of sale after the real property failed to sell at a tax sale. Provides that if real property sold at a tax sale is redeemed, the interest rate on the following components of the redemption amount is increased from 5% per annum to the statutory rate for judgments
Last Action
First reading: referred to Committee on Ways and Means
1/16/2018