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States › Indiana › Tax Sale Summary

There are 92 Counties in Indiana. It has about 6,080,485 residents. It became the 19th state on December 11, 1816. The state motto is "The crossroads of America".

Currently, the maximum penalty rate being offered to all Illinois tax lien certificate investors will vary from 10% to 15% with a one year right of redemption.

Summary: After the County auditor makes notice of delinquency (Sec. 6-1.1-24-1), each county and certain cities hold annual public oral bids auctions of property on which taxes have been listed as delinquent The county treasurer shall sell the tract or real property, subject to the right of redemption, to the highest bidder at public auction. However, a tract or an item of real property may not be sold for an amount which is less than the minimum bid requirements (Sec. 6-1.1-24-5, Sec. 6-1.1-24-5.2). If a tract or an item of real property is offered for sale under sections 1 through 5 of this chapter; and an amount is not received that is at least equal to the minimum sale price required under section 5(e) of this chapter; the tract or an item of real property may be offered for sale a second time consistent with the provisions of sections 1 through 5 of this chapter or subsection (b). (Sec. 6-11-24-5.5) When a tract or an item of real property is offered for sale under this chapter for two (2) consecutive tax sales and an amount is not received equal to or in excess of the minimum sale price prescribed in section 5(e) of this chapter, the county acquires a lien in the amount of the minimum sale price. This lien attaches on the day after the last date on which the tract or item was offered for sale the second time. (Sec. 6-1.1-24-6).

Law: Indiana Code, Title 6, Article 1.1, Chapter 24, "Sale of Real Property When Taxes or Special Assessments Become Delinquent," and Chapter 25, "Redemption of and Tax Deeds for Real Property Sold for Delinquent Taxes and Special Assessments."

Tax Sale List: Use Indiana Tax Sale Lists to search for Indiana tax lien certificates to buy or bid on. Generally most Indiana tax sale lists will identify the property owner, parcel number, legal description and the amount due. In some cases, the tax sale list may include the tax collectors assessed value of the property.

Contact: County Treasurer and County Auditor (Sec. 6-1.1-24-5).

Interest Rate: Varies upon when it is redeemed. 10% penalty on the minimum bid amount if redeemed within six months of the sale; 15% penalty on the minimum bid amount if redeemed after six months (Sec. 6-1.1-25-2).

10% per annum interest on the difference between the successful bid price and the minimum bid (referred to as the overbid) from the date of payment to the date of redemption. (6-1.1-24-2 (4)(D))

Auction Type: Tax Lien Certificate (Sec. 6-1.1-24-10).

Bidding Procedure: Amount is raised subject to the minimum bid requirements (Sec. 6-1.1-24-5).

Costs: are not specified by the state statutes.

Redemption Period: Any person may redeem the tract or real property sold under IC 6-1.1-24 at any time before the expiration of the period of redemption specified in section 4 of this chapter by paying to the county treasurer the amount required for redemption (Sec. 6-1.1-25-1). The certificate holder can seek the deed after one year has passed after the date of the sale: (Sec. 6-1.1-25-4, Sec. 6-1.1-25-4.5) but not later than six (6) months after the expiration of the period of redemption (IC 6-1.1-25-4.6). A special 120-day redemption period applies to property sold to a purchasing agency and to property listed on the property lists of consolidated counties.

Deed assigned at Foreclosure to: The Tax Lien Certificate holder. Furthermore, A tax deed executed under this chapter vests in the grantee an estate in fee simple absolute, free and clear of all liens and encumbrances created or suffered before or after the tax sale except those liens granted priority under federal law and the lien of the state or a political subdivision for taxes and special assessments which accrue subsequent to the sale and which are not removed under subsection (Sec. 6-1.1-25-4).

In order for the deed to be valid the purchaser must make two critical notifications

1. 90 days after the tax sale (Sec. 6-1.1-25-4.5 (b) (3) )
2. 09 months after tax sale (Sec. 6-1. 4.5 (a) (3) )

According to (Sec. 6-1. 1-25-7 (b)) "If the: (1) purchaser; (2) purchaser's successors or assigns; or (3) purchaser of the certificate of sale under IC 6-1.1-24; fails to file the petition within the period provided in section 4.6 of this chapter, that person's lien against the real property terminates at the end of that period."

Notes:

Counties:

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