The House Judiciary Committee heard SB 296 on the sale of tax delinquent real property sponsored by Rep. Jeter and Rep. Steuerwald. The bill was introduced by author, Sen. Koch, and provides:
- The term “severed interest” is defined as an improvement, mineral rights, air rights, water rights, or other rights in property in, on, under, or above the land for which the owner or holder of the interest identified in the current real property tax records of the county auditor is sent a separate property tax statement.
- The estate in fee simple that is vested in a grantee by a tax deed executed under the law on the sale of tax delinquent property is subject to a lease shown by public record if the tax deed conveys only a severed interest located in, on, under, or above the land.
- The rights that an owner of land has in the land, in a lease shown by public record, or in a memorandum of a lease shown by public record are not limited or abrogated by a tax deed conveying an interest in one or more severed improvements.
A representative from the Indiana State Bar Association Real Property Section testified in favor of the bill. The bill passed 11-0.
Read the bill at: https://iga.in.gov/legislative/2023/bills/senate/296