Senate OKs Abandoned Homes Bill
March 13, 2014 –TheStatehouseFile.com
INDIANAPOLIS – The Indiana Senate unanimously passed a bill Wednesday that will attempt to expedite the process of buying abandoned homes.
Senate Bill 422 would allow for an interest rate of only 5 percent, and buyers would take ownership of a home as soon as the tax sale is completed.
Under current law, buyers must wait a year before taking ownership, allowing for the previous owners to pay taxes and interest on the home.
The bill now goes to Gov. Mike Pence for approval.