Sec. 9. (a) This section applies only to the following:
(1) The transfer of property to a political subdivision under section 10 of this chapter.
(2) The sale of property under sections 11 through 16 of this chapter.
(b) This section does not apply under the following circumstances:
(1) The lease of property for a term of four (4) years or less.
(2) If the commissioner or agency real estate professional determines that the value of the property is likely to be less than either of the following:
(A) Ten thousand dollars ($10,000).
(B) An amount established by the department in rules adopted under IC 4-22-2.
(c) The property shall be appraised by an appraiser who has the qualifications determined by the commissioner.
(d) The transferring agency shall pay for the cost of the appraisal.
As added by P.L.7-1993, SEC.7. Amended by P.L.12-2022, SEC.1.
Structure Indiana Code
Title 4. State Offices and Administration
Article 20.5. State Real Property
Chapter 7. Disposition of Property
4-20.5-7-1. Application of Chapter
4-20.5-7-2. Transferring Agency Head; Duties
4-20.5-7-3. Verifications by Land Offices
4-20.5-7-4.5. Effect of Deeds of Certain State Property; Legalization
4-20.5-7-4.6. Effect of Deed of Certain State Property; Legalization
4-20.5-7-5. Environmental Audit
4-20.5-7-6. Notice of Proposed Transfer
4-20.5-7-7. Transfer of Property Between Agencies or Educational Institutions
4-20.5-7-7.3. Priority for Transfers
4-20.5-7-8. Transfer to Political Subdivision or Public Utility or Sale
4-20.5-7-10. Transfer to Political Subdivision by Gift or Sale; Preference to Political Subdivisions
4-20.5-7-10.3. Appraisal of Property Transferred to Public Utility
4-20.5-7-10.5. Transfer to Public Utility; Consideration
4-20.5-7-10.7. Transfer of Property to Person for Property of Like Value
4-20.5-7-11. Sale of Abandoned Railroad Corridor Property; Exception
4-20.5-7-14. Auction Procedure
4-20.5-7-15. Sale at Less Than Appraised Value; Grant of Easement
4-20.5-7-16. Cash Sale; Proceeds Depository
4-20.5-7-16.5. Proceeds Credited to Separate Account for Purchase of Other Real Property
4-20.5-7-17. Instrument of Transfer; Signatures