Sale of property; liability for deposits; exceptions
Sec. 19. (a) Unless otherwise agreed, if a landlord conveys, in a
good faith sale to a bona fide purchaser, property that includes a
dwelling unit subject to a rental agreement, the landlord is relieved
of liability under law or the rental agreement as to events occurring
after written notice to the tenant of the conveyance. However, for one
(1) year after giving notice of the conveyance, the landlord remains
liable to the tenant for the security deposit to which the tenant is
entitled under section 14 of this chapter unless:
(1) the purchaser acknowledges that the purchaser has assumed
the liability of the seller by giving notice to the tenant; and
(2) upon conveyance the seller transfers the security deposit to
the purchaser.
(b) Unless otherwise agreed, a manager of a dwelling unit is
relieved of any liability the manager might have under law or the
rental agreement as to events occurring after written notice to the
tenant of the termination of the manager's management.
As added by P.L.2-2002, SEC.16.
Last modified: May 24, 2006