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Bill Watch, Jan. 25, 2016: Current Real Estate & Land Use Legislation of Note - Real Estate and Land Use News

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Real Estate and Land Use News


Posted on: Jan 25, 2016

The IndyBar Legislative Committee is currently monitoring the following real estate and land use related legislation. IndyBar members can request that the Legislative Committee track specific legislation by contacting committee chair Lawren Mills at lawren.mills@icemiller.com.

Click here to view the full Bill Watch reports.

HB1021    TAX SALE PROPERTY FRAUD. (PRYOR C) Specifies that compensation includes a conveyance of real property under the law governing maximum compensation for recovering money in a tax sale surplus fund. Provides that, when real property sold at a tax sale is conveyed after the tax sale and before the tax sale purchaser is issued a tax sale deed, a person acquiring the property must pay the county the amount needed to redeem the real property before the person can obtain the county auditor's endorsement on the document of conveyance and record the document. Provides that such a conveyance becomes void on the date the redemption period expires if the document of conveyance has not been recorded.

HB1025    ALTERNATE REZONING PROCEDURE. (MILLER D) Creates an optional alternate procedure to apply to rezoning proposals that provides the following: (1) If the plan commission makes a favorable recommendation, the rezoning proposal becomes effective unless an aggrieved person or the legislative body notifies the plan commission by a specified date. (2) If the plan commission makes an unfavorable recommendation or no recommendation, the rezoning proposal is defeated unless an aggrieved person or the legislative body notifies the plan commission by a specified date. (3) If the plan commission is notified by an aggrieved person or the legislative body by a specified date, the legislative body shall consider and make the final determination on the rezoning proposal. Reconciles a conflict in a statute concerning rezonings within an excluded city.

HB1124    LIEN ON VACANT OR ABANDONED REAL PROPERTY. (PRYOR C) Provides that a tax sale certificate holder or an applicant for a tax deed who enters the premises of certain vacant or abandoned real property to perform the action of: (1) securing the real property; (2) removing trash or debris from the grounds of the real property; (3) landscaping, maintaining, or mowing the grounds of the real property; or (4) removing or painting over graffiti on the real property; has a lien on the real property equal to the amount of the reasonable value of labor performed and materials used to perform the action.

HB1222    CONDOMINIUMS AND HOMEOWNERS ASSOCIATIONS. (BURTON W) Makes the following amendments to the statutes concerning condominiums and homeowners associations: (1) Removes the requirement that the amendment of: (A) a condominium declaration; or (B) the governing documents of a homeowners association; requires the written consent of eligible mortgage holders. (2) Provides that a condominium co-owner or a homeowners association member is entitled to attend any meeting of the condominium's or homeowners association board, including an annual meeting. (3) Repeals provisions requiring condominium instruments and the governing documents of homeowners associations to include grievance resolution procedures. (4) Makes technical changes. Makes the following amendments to the statute concerning homeowners associations: (1) Specifies that certain provisions of the homeowners association statute apply to a homeowners association established before July 1, 2009, regardless of whether the members of the homeowners association have elected to be governed by the statute. (2) Provides that a homeowners association is not required to disclose communications that: (A) are initiated by the association or by a member of the association; and (B) concern suspected criminal activity by another member of the association. (3) Provides that in an enforcement action by the attorney general under the statute, the court may impose a civil penalty not exceeding $500 on an individual determined by the court to have exercised a proxy in violation of the statute.

HB1232    BACKGROUND CHECKS FOR REAL ESTATE BROKERS. (CLERE E) Requires an individual applying for an initial real estate broker's license to submit to a national criminal history background check at the cost of the individual. Authorizes the Indiana real estate commission to require an individual seeking a renewal of a real estate broker's license to submit to a national criminal history background check at the cost of the individual.

HB1290    ASSESSMENT OF REAL PROPERTY. (BROWN T) Repeals provisions enacted in 2015 concerning the assessment of: (1) certain limited market or special purpose property; and (2) commercial nonincome producing real property. Provides that in addition to the factors under current law, the department of local government finance (DLGF) shall also provide for the classification of improvements on the basis of market segmentation. Specifies that the value in exchange of an improved property does not reflect the true tax value of the improved property if a market segmentation analysis indicates that purportedly comparable sale properties have a different market or submarket for the current use of the improved property. Specifies that a market segmentation analysis must be conducted in conformity with generally accepted appraisal principles and is not limited to the categories of markets and submarkets enumerated in the rules or guidance materials adopted by the DLGF. Provides that true tax value shall be determined under the rules of the DLGF (subject to the provisions of the property tax article), and that the DLGF's rules may include examples to illustrate true tax value. Specifies that true tax value does not mean the value of the property to the user.

HB1294    LOCAL GOVERNMENT MATTERS. (JUDY C) Provides that in the case of the construction, remodeling, redevelopment, rehabilitation, or repair of real property for which public funds are used and that is owned by a private person after completion of the project, the county assessor must reassess the property by carrying out a physical inspection. Provides that in the case of a city park board, the appointee by the school board may be either a member of the school board or a resident of the school corporation. (Under current law, such an appointee must be a member of the school board.)

HB1358    CONDOMINIUM AND HOMEOWNERS ASSOCIATION LIENS. (FINE B) Amends the statutes concerning condominium liens and homeowners association liens to provide that if the mortgagee of a first mortgage, or if any other purchaser, obtains title to: (1) a condominium unit; or (2) real estate in a subdivision; as applicable, as a result of foreclosure of the first mortgage, the acquirer of title is not liable for the share of the common expenses or assessments that are chargeable to the unit or real estate and that became due before the date the judgment of foreclosure is issued by the court, if the judgment of foreclosure is issued by the court after June 30, 2016. (Current law provides that the acquirer of title through foreclosure is not liable for the share of the common expenses or assessments that became due at any time before the acquisition of title by the acquirer.)

HB1401    REAL ESTATE INVESTMENT TRUSTS. (SPEEDY M) Permits the creation and operation of a real estate investment trust in Indiana.

SB246    APPRAISAL MANAGEMENT PRACTICES. (FORD J) Provides that an appraisal management company that engages a real estate appraiser to perform an appraisal shall pay the real estate appraiser for the appraisal to be performed not later than: (1) the: (A) payment date; or (B) occurrence of a specified event upon which payment is to be made; that is set forth in the contract or agreement between the appraisal management company and the real estate appraiser; or (2) 30 days after the return of the appraisal to the appraisal management company by the real estate appraiser, if: (A) a contract or agreement between the appraisal management company and the real estate appraiser does not exist with respect to the appraisal; or (B) a contract or agreement exists but does not specify a date by which, or an event upon the occurrence of which, the appraisal company is to pay the real estate appraiser for the appraisal. Provides that an appraisal management company may not prohibit a real estate appraiser from including in an appraisal the real estate appraiser's costs and fees for preparing the appraisal. Makes a technical change.

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