Indiana property tax laws

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  • nra4ever

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    25   0   0
    Dec 19, 2011
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    Indy
    You can still buy the property but you will have to clear up the taxes and any liens. Factor those costs into your offer.
     

    mom45

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    0   0   0
    Nov 10, 2013
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    And the former owner has a period of one year (I think that's still the rule) to reclaim it by paying the debt.
     

    dudley0

    Nobody Important
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    99   0   0
    Mar 19, 2010
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    Grant County
    They have already waited for the tax money for some time. Usually longer than a year, sometimes not.

    Some people just don't get motivated until it comes up for sale, then they pay the back taxes and the penalty.

    I know a guy that made a killing on buying properties like this. He did it more to collect the penalty which I think was 10%. Then he got silly and bought a couple places without vetting them first. Got stuck with a couple wonderful properties. They were up for tax sale because they were abandoned.

    He tried to sell one to me for cheap. I was too busy at the time to deal with it. Now the city or county will get involved and try to condemn the places as soon as they are sold.

    Have heard of people buying, rehabbing and renting or moving in to tax properties only to have the original owner come back within the year and take the place. You do not get to charge for any of the upgrades or maintenance on the place either. At least that was the rule back when I was considering playing the game.
     

    Tactically Fat

    Grandmaster
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    22   0   0
    Oct 8, 2014
    8,270
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    Indiana
    Also - this moves at the speed of government.

    My FIL passed away in Sept of 2017. As far as I can tell right now, his house is still "his", despite it having been abandoned after his passing. I keep checking the county tax role and it still shows him as owner, anyhow. Not like anything's being paid. And that's small-town Bluffton.

    That said, there's a small "scam" that some people try and pull. A person known to the owner will "buy" the house at the sheriff's sale. Then the owner will pay the owed taxes to become current. In a cycle.

    Better off buying foreclosures through a bank than through the county, IMO.

    ETA: I just checked again. 1/27/2020 it was purchased by a rental company. They got a house/land valued at $55k, that needs about $50k worth of work, for $1000.
     
    Last edited:

    2Lucky

    Marksman
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    1   0   0
    Nov 29, 2018
    227
    18
    Notre Dame
    They have already waited for the tax money for some time. Usually longer than a year, sometimes not.

    Some people just don't get motivated until it comes up for sale, then they pay the back taxes and the penalty.

    I know a guy that made a killing on buying properties like this. He did it more to collect the penalty which I think was 10%. Then he got silly and bought a couple places without vetting them first. Got stuck with a couple wonderful properties. They were up for tax sale because they were abandoned.

    He tried to sell one to me for cheap. I was too busy at the time to deal with it. Now the city or county will get involved and try to condemn the places as soon as they are sold.

    Have heard of people buying, rehabbing and renting or moving in to tax properties only to have the original owner come back within the year and take the place. You do not get to charge for any of the upgrades or maintenance on the place either. At least that was the rule back when I was considering playing the game.

    You dont get possession until the year is up. If they did they were in violation.
     

    HoughMade

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    0   0   0
    Oct 24, 2012
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    Valparaiso
    You can still buy the property but you will have to clear up the taxes and any liens. Factor those costs into your offer.

    If you are talking about buying from the current owner who is behind, this ^^

    I would check with the county to determine exactly how much they need to be paid the moment you close to own the house free and clear.

    If you buy the owner's interest, there is no redemption period or any other monkey business that goes with buying through a Sheriff's sale.
     
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