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Indiana Code — Title 6 (Taxation)

IC 6-1.1-24-8

Failure to pay bid; effect

Official textiga.in.govlast amended

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 prosecuting attorney of the appropriate judicial circuit 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; P.L.148-2024, SEC.

# 2.

Amendment history

Formerly: Acts 1975, P.L.47, SEC.1. As amended by P.L.139-2001, SEC.7; P.L.89-2007, SEC.8; P.L.148-2024, SEC.2.

Source: view the official text

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Nearby sections (25 sections)
  1. 6-1.1-24-6 · Lien by county; tax sale certificate
  2. 6-1.1-24-6.1 · Public sale by county executive of certificates of sale;…
  3. 6-1.1-24-6.2 · Transfer of property to the city or town in which the…
  4. 6-1.1-24-6.3 · Conditions of sale of certificates of sale
  5. 6-1.1-24-6.4 · Distribution of proceeds of sale of certificates of…
  6. 6-1.1-24-6.5 · Repealed
  7. 6-1.1-24-6.6 · Repealed
  8. 6-1.1-24-6.7 · Transfer of property to a nonprofit entity
  9. 6-1.1-24-6.8 · Transfer of parcels and certificates of sale to adjacent
  10. 6-1.1-24-6.9 · Transfer of property to a person able to repair and…
  11. 6-1.1-24-7 · Payment of sale price; application of payment; tax sale…
  12. 6-1.1-24-7.5 · Limitations on agreements for recovery of money…
  13. 6-1.1-24-8 · Failure to pay bid; effect
  14. 6-1.1-24-9 · Certificate of sale; contents; purchaser's lien; ordinance;
  15. 6-1.1-24-10 · Guarantee by treasurer
  16. 6-1.1-24-11 · Certificate of sale as presumptive evidence
  17. 6-1.1-24-12 · Priority of purchaser's lien at subsequent sale
  18. 6-1.1-24-13 · Placement of costs on tax duplicate of unsold tract;…
  19. 6-1.1-24-14 · Duties regarding conduct of tax sale
  20. 6-1.1-24-15 · Repealed
  21. 6-1.1-24-16 · Paddle fee
  22. 6-1.1-24-17 · Assignment of a certificate of sale to a nonprofit entity
  23. 6-1.1-24-17.5 · Sale of real property to eligible nonprofit entities…
  24. 6-1.1-24-18 · Real property with mineral interests
  25. 6-1.1-24.5-1 · Definitions
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