36-7-17.1-1. Application of Chapter
Sec. 1. This chapter applies to all units except townships. As added by P.L.118-2013, SEC.16.
36-7-17.1-10. Conveyances; Fee Simple Title
Sec. 10. If, after purchasing real property under this chapter, an individual has complied with the terms of the individual’s agreement under section 7(b)(1) and 7(b)(3) of this chapter, the agency shall convey to the individual a fee simple title to the real property. As added by P.L.118-2013, SEC.16.
36-7-17.1-11. Rules and Regulations
Sec. 11. The director of the agency shall prescribe the rules and regulations necessary to carry out this chapter, including rules and regulations establishing the period by which an individual must apply for and receive a rehabilitation loan with respect to the dwelling and the real property on which it is located, as described in […]
36-7-17.1-12. Retention of Deed by Unit; Property Deemed Municipal Property; Tax Exemption
Sec. 12. Property acquired or held under this chapter with retention of the deed by the unit is considered property of the unit held for municipal purposes and is exempt from property taxation. This property tax exemption becomes effective on the date of conveyance to the unit. A petition to cancel taxes or a certified […]
36-7-17.1-13. Property Not Applied for in Successive Drawings; Sale; Disposition of Proceeds
Sec. 13. (a) A property for which no one applies in two (2) successive drawings held under this chapter may be sold at public auction to the highest bidder. (b) The proceeds of the sale of real property acquired under IC 6-1.1-25-7.5 shall be applied to the cost of the sale, including advertising and appraisal. […]
36-7-17.1-2. “Rehabilitation Loan”
Sec. 2. As used in this chapter, “rehabilitation loan” refers to a rehabilitation loan (as defined in 24 CFR 203.50(a)(1)) that is eligible for insurance under Section 203(k) of the National Housing Act (12 U.S.C. 1709(4k)). As added by P.L.118-2013, SEC.16.
36-7-17.1-3. Designation of Agency to Administer Program
Sec. 3. (a) The fiscal body of a unit may by ordinance designate an agency or quasi-public corporation, or establish a new agency, to administer an urban homesteading program under which a dwelling for one (1) to four (4) families may be conveyed to individuals who must: (1) occupy and rehabilitate the dwelling; (2) use […]
36-7-17.1-4. Acquisition of Property
Sec. 4. (a) The agency designated or established under section 3 of this chapter may acquire real property in the name of the unit, for use as provided in this chapter. (b) Under IC 6-1.1-24-4.5, the county auditor shall provide a list of real property on which one (1) or more installments of taxes are […]
36-7-17.1-5. Notice to Residents of Unit
Sec. 5. The agency shall, after the acquisition of real property for use as provided in this chapter, take the steps necessary to fully inform the residents of each unit in which the dwellings are located of: (1) the existence, nature, and location of the dwellings; (2) the qualifications required for participation in the program […]
36-7-17.1-6. Applications; Eligibility; Drawings to Determine Receipt of Dwellings
Sec. 6. (a) An individual may apply for the program by completing an application. (b) An individual is qualified and shall be approved to receive real property offered under this chapter if: (1) the individual is at least eighteen (18) years of age; (2) the individual applies for and receives a rehabilitation loan with respect […]
36-7-17.1-7. Conveyances; Duties of Recipients
Sec. 7. (a) The conveyance of a dwelling to an applicant under this chapter shall be made in return for a fee of: (1) one dollar ($1); plus (2) the amounts described in IC 6-1.1-24-5(e)(4) through IC 6-1.1-24-5(e)(6); if the applicant executes an agreement that meets the minimum conditions specified in subsection (b). (b) The […]
36-7-17.1-8. Conveyances; Methods Authorized
Sec. 8. (a) The agency shall convey real property acquired for the purposes of this chapter to an individual qualified under section 7 of this chapter by using a method prescribed by subsection (b) or (c). (b) The real property may be conveyed by a conditional sales contract, with title to remain in the agency […]
36-7-17.1-9. Conveyances; Effect of Purchaser’s Failure to Fulfill Agreement
Sec. 9. Before the vesting of a fee simple title in the purchaser under section 10 of this chapter, any material failure by the purchaser to carry out the agreement entered into under section 7 of this chapter nullifies the agreement and all right, title, and interest in the property immediately reverts to the agency, […]