School lands; when considered sold
Sec. 35. (a) For purposes of this chapter, school lands have been
sold if:
(1) a certificate of sale has been issued to the purchaser or
recorded in the proper office;
(2) the purchaser has paid all or part of the purchase money; and
(3) the purchaser has or could have entered into possession of the
land.
(b) If subsection (a) of this section is applicable, the land is
subject to assessment and taxation in the same manner as if a deed
had been delivered to the purchaser.
(Formerly: Acts 1975, P.L.47, SEC.1.)
Last modified: May 28, 2006