Indiana § 36-1-10-11 - Property held in fee simple; sale procedure
Full text of Indiana Indiana Code § 36-1-10-11 — Property held in fee simple; sale procedure, with citation guidance and answers to common questions.
§ 36-1-10-11. Property held in fee simple; sale procedure
Sec. 11. (a) The lessor must hold in fee simple land on which a structure is to be erected, acquired, improved, remodeled, or expanded. The lessor must hold in fee simple a structure that is to be acquired, improved, remodeled, or expanded.
(b) The leasing agent may sell land or a structure owned by the political subdivision or agency to the lessor under the following procedure if the political subdivision wants to lease a structure proposed to be built, acquired, improved, remodeled, or expanded on that land:
(1) The leasing agent shall appoint two (2) appraisers to appraise the fair market value of the land or structure.
(2) The appraisers must be professionally engaged in making appraisals or licensed under IC 25-34.1.
(3) The appraisers shall return their appraisal to the leasing agent within two (2) weeks after the date of their appointment.
(4) The leasing agent shall sell the land or structure for not less than the appraised value. However, if the political subdivision or agency acquired the land or structure during the three (3) years preceding the date of the appointment of the appraisers, the land or structure may not be sold for an amount less than the amount paid by the political subdivision or agency for the land or structure.
(5) The leasing agent shall be paid in cash upon the agent's delivery of the deed.
(6) The leasing agent is not required to comply with any other law relating to the sale of land or structures by a political subdivision.
[Pre-Local Government Recodification Citation: 18-5-3.3-8.]
As added by Acts 1981, P.L.57, SEC.36. Amended by P.L.188-1988, SEC.2.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 36-1-10-11
What does Indiana Code § 36-1-10-11 cover?
Section 36-1-10-11 ("Property held in fee simple; sale procedure") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 36-1-10-11?
A common citation format is "Indiana Code § 36-1-10-11" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 36-1-10-11 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.