{"data":{"id":"us-in/ic-20-47-5-2","jurisdiction":"us-in","citation":"IC 20-47-5-2","heading":"Property interest in lease; annexing school corporation; termination of obligations of annexed school corporation","body":"Sec. 2. If a building or buildings that have been leased under IC 20-47-2 are located in the territory annexed or acquired, as described in section 1 of this chapter:\n(1) the school corporation acquiring the territory:\n(A) shall pay the full amount of the lease rental payments due after the territory is annexed or acquired in accordance with the terms of the lease; and\n(B) succeeds to and possesses all the rights and is subject to the obligations of the lessee under the lease, including the right of occupancy and use of the building; and\n(2) all rights and obligations of the lessee school corporation named in the lease terminate.","path":["TITLE 20. EDUCATION","ARTICLE 47. RELATED ENTITIES; HOLDING COMPANIES; LEASE AGREEMENTS","Chapter 5. Payment of Rent by Annexed School Corporation"],"source_url":"https://iga.in.gov/ic/2026/Title_20.html#20-47-5-2","current_through":"2026","vintage":"2026","retrieved_at":"2026-08-01T01:34:30Z","sha256":"8a87fa0eb9300ef14b969d603e268ba40d8d835416d30ed9390a3186e159efb3","source_id":"us-in","stale":false,"prev":"us-in/ic-20-47-5-1","next":"us-in/ic-20-48-1-1"},"notice":"GroundRules: Original legal text. Not legal advice."}