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2017 Indiana Code
TITLE 6. Taxation
ARTICLE 1.1. PROPERTY TAXES
CHAPTER 24. Sale of Real Property When Taxes or Special Assessments Become Delinquent
6-1.1-24-8. Failure to pay bid; effect
Universal Citation: IN Code § 6-1.1-24-8 (2017)
IC 6-1.1-24-8 Failure to pay bid; effect
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.
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