| 1 | 1 | | |
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| 2 | 2 | | Introduced Version |
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| 3 | 3 | | SENATE BILL No. 243 |
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| 4 | 4 | | _____ |
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| 5 | 5 | | DIGEST OF INTRODUCED BILL |
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| 6 | 6 | | Citations Affected: IC 32-31-1-10.5. |
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| 7 | 7 | | Synopsis: Landlord-tenant relations. Provides that a landlord may not |
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| 8 | 8 | | sell a residential rental property that is subject to an unexpired written |
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| 9 | 9 | | lease unless the landlord gives written notice to the tenant of the |
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| 10 | 10 | | residential rental property not less than 60 days before the landlord lists |
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| 11 | 11 | | the property for sale, unless certain exceptions apply. Requires a buyer |
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| 12 | 12 | | of a residential rental property to honor an unexpired written lease |
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| 13 | 13 | | between the previous owner and a tenant unless the buyer of the |
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| 14 | 14 | | residential rental property gives written notice to the tenant that the |
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| 15 | 15 | | buyer intends to terminate the lease, not less than 30 days before the |
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| 16 | 16 | | lease is terminated, and pays the tenant an amount equal to one month |
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| 17 | 17 | | rent plus the full security deposit as specified in the written lease. |
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| 18 | 18 | | Effective: July 1, 2024. |
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| 19 | 19 | | Hunley |
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| 20 | 20 | | January 10, 2024, read first time and referred to Committee on Judiciary. |
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| 21 | 21 | | 2024 IN 243—LS 6931/DI 154 Introduced |
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| 22 | 22 | | Second Regular Session of the 123rd General Assembly (2024) |
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| 23 | 23 | | PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana |
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| 24 | 24 | | Constitution) is being amended, the text of the existing provision will appear in this style type, |
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| 25 | 25 | | additions will appear in this style type, and deletions will appear in this style type. |
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| 26 | 26 | | Additions: Whenever a new statutory provision is being enacted (or a new constitutional |
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| 27 | 27 | | provision adopted), the text of the new provision will appear in this style type. Also, the |
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| 28 | 28 | | word NEW will appear in that style type in the introductory clause of each SECTION that adds |
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| 29 | 29 | | a new provision to the Indiana Code or the Indiana Constitution. |
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| 30 | 30 | | Conflict reconciliation: Text in a statute in this style type or this style type reconciles conflicts |
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| 31 | 31 | | between statutes enacted by the 2023 Regular Session of the General Assembly. |
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| 32 | 32 | | SENATE BILL No. 243 |
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| 33 | 33 | | A BILL FOR AN ACT to amend the Indiana Code concerning |
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| 34 | 34 | | property. |
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| 35 | 35 | | Be it enacted by the General Assembly of the State of Indiana: |
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| 36 | 36 | | 1 SECTION 1. IC 32-31-1-10.5 IS ADDED TO THE INDIANA |
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| 37 | 37 | | 2 CODE AS A NEW SECTION TO READ AS FOLLOWS |
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| 38 | 38 | | 3 [EFFECTIVE JULY 1, 2024]: Sec. 10.5. (a) Except as provided in |
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| 39 | 39 | | 4 subsection (b), before a landlord may sell a residential rental |
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| 40 | 40 | | 5 property that is subject to an unexpired written lease, the landlord |
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| 41 | 41 | | 6 must give written notice: |
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| 42 | 42 | | 7 (1) to the tenant; and |
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| 43 | 43 | | 8 (2) not less than sixty (60) days before the landlord lists the |
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| 44 | 44 | | 9 property for sale; |
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| 45 | 45 | | 10 of the intent to sell the residential real property. |
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| 46 | 46 | | 11 (b) A landlord of a residential rental property is not required to |
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| 47 | 47 | | 12 comply with subsection (a) if any of the following apply: |
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| 48 | 48 | | 13 (1) The landlord and tenant mutually agree to terminate the |
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| 49 | 49 | | 14 unexpired lease early. |
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| 50 | 50 | | 15 (2) An unexpired written lease is set to expire within the sixty |
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| 51 | 51 | | 16 (60) day notice period described in subsection (a)(2). |
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| 52 | 52 | | 17 (3) The tenant is in breach of the lease agreement. |
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| 53 | 53 | | 2024 IN 243—LS 6931/DI 154 2 |
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| 54 | 54 | | 1 (4) The residential rental property is being sold due to the |
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| 55 | 55 | | 2 death of the owner of the residential rental property. |
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| 56 | 56 | | 3 (c) Except as provided in subsection (d), a buyer of a residential |
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| 57 | 57 | | 4 rental property shall honor an unexpired written lease between the |
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| 58 | 58 | | 5 previous owner and a tenant. |
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| 59 | 59 | | 6 (d) A buyer of a residential rental property may terminate an |
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| 60 | 60 | | 7 unexpired written lease between the previous owner and a tenant |
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| 61 | 61 | | 8 if the buyer: |
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| 62 | 62 | | 9 (1) not less than thirty (30) days before the lease is terminated, |
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| 63 | 63 | | 10 gives written notice to the tenant that the buyer intends to |
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| 64 | 64 | | 11 terminate the lease; and |
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| 65 | 65 | | 12 (2) pays the tenant an amount equal to: |
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| 66 | 66 | | 13 (A) one (1) month rent; plus |
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| 67 | 67 | | 14 (B) the full security deposit; |
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| 68 | 68 | | 15 as specified in the written lease. |
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| 69 | 69 | | 2024 IN 243—LS 6931/DI 154 |
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