IC 32-29-7-4.5 — Sheriff's sale; prohibited bidders
Chapter 7. Foreclosure ─ Redemption, Sale, Right to Retain Possession
Section text
Sec. 4.5. (a) This section does not apply to a party foreclosing on a mortgage executed on a tract offered for sale under this chapter. (b) This section applies to the following: (1) A person who: (A) owns a fee interest, a life estate interest, or the equitable interest of a contract purchaser in an unsafe building or unsafe premises; and (B) is subject to an order issued under IC 36-7-9-5(a)(2), IC 36-7-9-5(a)(3), IC 36-7-9-5(a)(4), or IC 36-7-9-5(a)(5) regarding which the conditions set forth in IC 36-7-9-10(a)(1) through IC 36-7-9-10(a)(4) exist. (2) A person who: (A) owns a fee interest, a life estate interest, or the equitable interest of a contract purchaser in an unsafe building or unsafe premises; and (B) is subject to an order issued under IC 36-7-9-5(a), other than an order issued under IC 36-7-9-5(a)(2), IC 36-7-9-5(a)(3), IC 36-7-9-5(a)(4), or IC 36-7-9-5(a)(5), regarding which the conditions set forth in IC 36-7-9-10(b)(1) through IC 36-7-9-10(b)(4) exist. (3) A person who is the defendant in a court action brought under IC 36-7-9-18, IC 36-7-9-19, IC 36-7-9-20, IC 36-7-9-21, or IC 36-7-9-22 that has resulted in a judgment in favor of the plaintiff and the unsafe condition that caused the action to be brought has not been corrected. (4) A person who has any of the following relationships to a person, partnership, corporation, or legal entity described in subdivision (1), (2), (3), or (5): (A) A partner of a partnership. (B) A member of a limited liability company. (C) An officer, director, or majority stockholder of a corporation. (D) The person who controls or directs the activities or has a majority ownership in a legal entity other than a partnership or corporation. (5) A person who owes: (A) delinquent taxes; (B) special assessments; (C) penalties; (D) interest; or (E) costs directly attributable to a prior tax sale; on a tract or an item of real property listed under IC 6-1.1-24-1. (6) A person who owns a fee interest, a life estate interest, or the equitable interest of a contract purchaser in a vacant or abandoned structure subject to an enforcement order under IC 32-30-6, IC 32-30-7, IC 32-30-8, or IC 36-7-9, or a court order under IC 36-7-37. (7) A person who is an agent of a person described in this subsection. (8) A person who: (A) is delinquent in the payment of any personal property taxes; or (B) is subject to an existing personal property tax judgment; under IC 6-1.1-22-9. (c) A person subject to this section may not bid on or purchase a tract offered for sale under section 4 of this chapter. (d) A business entity may not bid on or purchase a tract offered for sale under section 4 of this chapter if: (1) a person subject to this section: (A) formed the business entity; (B) joined with another person or party to form the business entity; or (C) joined the business entity as a proprietor, incorporator, partner, shareholder, director, employee, or member; or (2) a person subject to this section: (A) becomes an agent, employee, or board member of the business entity; or (B) is not an attorney at law and represents the business entity in a legal matter.
As added by P.L.112-2022, SEC.2.
Source: official publisher (2026 edition)