Introduced Version
SENATE BILL No. 243
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DIGEST OF INTRODUCED BILL
Citations Affected: IC 32-31-1-10.5.
Synopsis: Landlord-tenant relations. Provides that a landlord may not
sell a residential rental property that is subject to an unexpired written
lease unless the landlord gives written notice to the tenant of the
residential rental property not less than 60 days before the landlord lists
the property for sale, unless certain exceptions apply. Requires a buyer
of a residential rental property to honor an unexpired written lease
between the previous owner and a tenant unless the buyer of the
residential rental property gives written notice to the tenant that the
buyer intends to terminate the lease, not less than 30 days before the
lease is terminated, and pays the tenant an amount equal to one month
rent plus the full security deposit as specified in the written lease.
Effective: July 1, 2024.
Hunley
January 10, 2024, read first time and referred to Committee on Judiciary.
2024 IN 243—LS 6931/DI 154 Introduced
Second Regular Session of the 123rd General Assembly (2024)
PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana
Constitution) is being amended, the text of the existing provision will appear in this style type,
additions will appear in this style type, and deletions will appear in this style type.
Additions: Whenever a new statutory provision is being enacted (or a new constitutional
provision adopted), the text of the new provision will appear in this style type. Also, the
word NEW will appear in that style type in the introductory clause of each SECTION that adds
a new provision to the Indiana Code or the Indiana Constitution.
Conflict reconciliation: Text in a statute in this style type or this style type reconciles conflicts
between statutes enacted by the 2023 Regular Session of the General Assembly.
SENATE BILL No. 243
A BILL FOR AN ACT to amend the Indiana Code concerning
property.
Be it enacted by the General Assembly of the State of Indiana:
1 SECTION 1. IC 32-31-1-10.5 IS ADDED TO THE INDIANA
2 CODE AS A NEW SECTION TO READ AS FOLLOWS
3 [EFFECTIVE JULY 1, 2024]: Sec. 10.5. (a) Except as provided in
4 subsection (b), before a landlord may sell a residential rental
5 property that is subject to an unexpired written lease, the landlord
6 must give written notice:
7 (1) to the tenant; and
8 (2) not less than sixty (60) days before the landlord lists the
9 property for sale;
10 of the intent to sell the residential real property.
11 (b) A landlord of a residential rental property is not required to
12 comply with subsection (a) if any of the following apply:
13 (1) The landlord and tenant mutually agree to terminate the
14 unexpired lease early.
15 (2) An unexpired written lease is set to expire within the sixty
16 (60) day notice period described in subsection (a)(2).
17 (3) The tenant is in breach of the lease agreement.
2024 IN 243—LS 6931/DI 154 2
1 (4) The residential rental property is being sold due to the
2 death of the owner of the residential rental property.
3 (c) Except as provided in subsection (d), a buyer of a residential
4 rental property shall honor an unexpired written lease between the
5 previous owner and a tenant.
6 (d) A buyer of a residential rental property may terminate an
7 unexpired written lease between the previous owner and a tenant
8 if the buyer:
9 (1) not less than thirty (30) days before the lease is terminated,
10 gives written notice to the tenant that the buyer intends to
11 terminate the lease; and
12 (2) pays the tenant an amount equal to:
13 (A) one (1) month rent; plus
14 (B) the full security deposit;
15 as specified in the written lease.
2024 IN 243—LS 6931/DI 154