2018 Indiana Code
TITLE 6. Taxation
ARTICLE 1.1. PROPERTY TAXES
CHAPTER 25. Redemption of and Tax Deeds for Real Property Sold for Delinquent Taxes and Special Assessments
6-1.1-25-2. Amount required for redemption
Sec. 2. (a) The total amount of money required for the redemption of real property equals the following amount, as applicable:
(1) If a tract or item of real property is redeemed under section 4(c) of this chapter, the amount prescribed in subsection (g).
(2) If subdivision (1) does not apply, the sum of the amounts prescribed in subsections (b) through (f).
(b) Except as provided in subsection (g), the total amount required for redemption includes:
(1) one hundred ten percent (110%) of the minimum bid for which the tract or real property was offered at the time of sale, as required by IC 6-1.1-24-5, if the tract or item of real property is redeemed not more than six (6) months after the date of sale; or
(2) one hundred fifteen percent (115%) of the minimum bid for which the tract or real property was offered at the time of sale, as required by IC 6-1.1-24-5, if: the tract or item of real property is redeemed more than six (6) months but not more than one (1) year after the date of sale.
(c) Except as provided in subsection (g), in addition to the amount required under subsection (b), the total amount required for redemption includes five percent (5%) per annum on the amount by which the purchase price exceeds the minimum bid on the property, if the date of sale occurs after June 30, 2014.
(d) Except as provided in subsection (g), in addition to the amount required under subsections (b) and (c), the total amount required for redemption includes all taxes and special assessments upon the property paid by the purchaser after the sale plus:
(1) five percent (5%) per annum on those taxes and special assessments, if the date of sale occurs after June 30, 2014; or
(2) ten percent (10%) interest per annum on those taxes and special assessments, if the date of sale occurs before July 1, 2014.
(e) Except as provided in subsection (g), in addition to the amounts required under subsections (b), (c), and (d), the total amount required for redemption includes the following costs, if certified before redemption and not earlier than thirty (30) days after the date of sale of the property being redeemed by the payor to the county auditor on a form prescribed by the state board of accounts, that were incurred and paid by the purchaser, the purchaser's assignee, or the county, before redemption:
(1) The attorney's fees and costs of giving notice under section 4.5 of this chapter.
(2) The costs of a title search or of examining and updating the abstract of title for the tract or item of real property.
(f) The total amount required for redemption includes, in addition to the amounts required under subsections (b) and (e), all taxes, special assessments, interest, penalties, and fees on the property that accrued and are delinquent after the sale.
(g) With respect to a tract or item of real property redeemed under section 4(c) of this chapter, instead of the amounts stated in subsections (b) through (f), the total amount required for redemption is the amount determined under IC 6-1.1-24-6.1(b)(4).
[Pre-1975 Property Tax Recodification Citation: 6-1-57-2 part.]
Formerly: Acts 1975, P.L.47, SEC.1. As amended by P.L.89-1987, SEC.4; P.L.60-1988, SEC.15; P.L.50-1990, SEC.12; P.L.62-1991, SEC.2; P.L.39-1994, SEC.14; P.L.88-1995, SEC.5; P.L.56-1996, SEC.7; P.L.139-2001, SEC.11; P.L.170-2003, SEC.7; P.L.89-2007, SEC.9; P.L.56-2012, SEC.12; P.L.66-2014, SEC.12; P.L.94-2014, SEC.1; P.L.251-2015, SEC.20; P.L.187-2016, SEC.11; P.L.187-2018, SEC.3.
