The following conditions apply to a sale referred to in section 1(a) of this chapter:

1. (1) The purchaser is liable for any shortages existing before or after the sale in the perpetual care fund required by IC 23-14-48 or in an escrow fund or trust account required by IC 23-14-49-1 .

2. (2) The purchaser shall perform:

   1. (A) all obligations imposed on cemetery owners under this article;

   2. (B) all obligations imposed on the cemetery owner under contracts made by the selling cemetery owner or any prior cemetery owner relating to:

      1. (i) burial or interment rights; or
      2. (ii) the sale of the personal property or services described in IC 23-14-49-1 ; and
   3. (C) any other related obligation.

As added by P.L.52-1997, SEC.26.