{"data":{"id":"us-in/ic-20-26-7-1","jurisdiction":"us-in","citation":"IC 20-26-7-1","heading":"Sale or exchange of unneeded property","body":"Sec. 1. (a) Except as otherwise provided in IC 20-26-7.1, if a governing body of a school corporation determines that any real or personal property:\n(1) is no longer needed for school purposes; or\n(2) should, in the interests of the school corporation, be exchanged for other property;\nthe governing body may sell or exchange the property in accordance with IC 36-1-11.\n(b) Money derived from the sale or exchange of property under this section shall be placed in the school corporation's operations fund.\n(c) A governing body may not enter into a lease agreement or make a covenant that prohibits the sale of real property to another educational institution.","path":["TITLE 20. EDUCATION","ARTICLE 26. SCHOOL CORPORATIONS: GENERAL ADMINISTRATIVE PROVISIONS","Chapter 7. Property and Eminent Domain"],"source_url":"https://iga.in.gov/ic/2026/Title_20.html#20-26-7-1","current_through":"2026","vintage":"2026","retrieved_at":"2026-08-01T01:34:30Z","sha256":"2a34c6db7aaee89093db710af88c7931a8fa8c34620cbac3d21ccf5ef44c4a20","source_id":"us-in","stale":false,"prev":"us-in/ic-20-26-7-0.4","next":"us-in/ic-20-26-7-2"},"notice":"GroundRules: Original legal text. Not legal advice."}