Information Maintained by the Office of Code Revision Indiana Legislative Services Agency
IC 6-1.1-5.5
     Chapter 5.5. Sales Disclosure Forms

IC 6-1.1-5.5-1
"Conveyance" defined
    
Sec. 1. As used in this chapter, "conveyance" means any transfer of a real property interest for valuable consideration.
As added by P.L.63-1993, SEC.1. Amended by P.L.144-2008, SEC.1.

IC 6-1.1-5.5-2
"Conveyance document" defined
    
Sec. 2. (a) As used in this chapter, "conveyance document" means any of the following:
        (1) Any of the following that purports to transfer a real property interest for valuable consideration:
            (A) A document.
            (B) A deed.
            (C) A contract of sale.
            (D) An agreement.
            (E) A judgment.
            (F) A lease that includes the fee simple estate and is for a period in excess of ninety (90) years.
            (G) A quitclaim deed serving as a source of title.
            (H) Another document presented for recording.
        (2) Documents for compulsory transactions as a result of foreclosure or express threat of foreclosure, divorce, court order, condemnation, or probate.
        (3) Documents involving the partition of land between tenants in common, joint tenants, or tenants by the entirety.
    (b) The term does not include the following:
        (1) Security interest documents such as mortgages and trust deeds.
        (2) Leases that are for a term of less than ninety (90) years.
        (3) Agreements and other documents for mergers, consolidations, and incorporations involving solely nonlisted stock.
        (4) Quitclaim deeds not serving as a source of title.
        (5) Public utility or governmental easements or rights-of-way.
As added by P.L.63-1993, SEC.1. Amended by P.L.144-2008, SEC.2; P.L.182-2009(ss), SEC.90.

IC 6-1.1-5.5-3
Sales disclosure form filing and review process; forwarding and use of forms; confidential information; conveyance of multiple parcels
    
Sec. 3. (a) For purposes of this section, "party" includes:
        (1) a seller of property that is exempt under the seller's ownership; or
        (2) a purchaser of property that is exempt under the purchaser's ownership;


from property taxes under IC 6-1.1-10.
    (b) Subject to subsections (g) and (h), before filing a conveyance document with the county auditor under IC 6-1.1-5-4, all the parties to the conveyance must do the following:
        (1) Complete and sign a sales disclosure form as prescribed by the department of local government finance under section 5 of this chapter. All the parties may sign one (1) form, or if all the parties do not agree on the information to be included on the completed form, each party may sign and file a separate form. For conveyance transactions involving more than two (2) parties, one (1) transferor and one (1) transferee signing the sales disclosure form is sufficient.
        (2) Before filing a sales disclosure form with the county auditor, submit the sales disclosure form to the county assessor. The county assessor must review the accuracy and completeness of each sales disclosure form submitted immediately upon receipt of the form and, if the form is accurate and complete, stamp or otherwise approve the form as eligible for filing with the county auditor and return the form to the appropriate party for filing with the county auditor. If multiple forms are filed in a short period, the county assessor shall process the forms as quickly as possible. For purposes of this subdivision, a sales disclosure form is considered to be accurate and complete if:
            (A) the county assessor does not have substantial evidence when the form is reviewed under this subdivision that information in the form is inaccurate; and
            (B) both of the following conditions are satisfied:
                (i) The form contains the information required by section 5(a)(1) through 5(a)(16) of this chapter as that section applies to the conveyance transaction, subject to the obligation of a party to furnish or correct that information in the manner required by and subject to the penalty provisions of section 12 of this chapter. The form may not be rejected for failure to contain information other than that required by section 5(a)(1) through 5(a)(16) of this chapter.
                (ii) The form is submitted to the county assessor in a format usable to the county assessor.
        (3) File the sales disclosure form with the county auditor.
    (c) The auditor shall review each sales disclosure form and process any deduction for which the form serves as an application under IC 6-1.1-12-44. The auditor shall forward each sales disclosure form to the county assessor. The county assessor shall verify the assessed valuation of the property for the assessment date to which the application applies and transmit that assessed valuation to the auditor. The county assessor shall retain the forms for five (5) years. The county assessor shall forward the sales disclosure form data to the department of local government finance and the legislative services agency in an electronic format specified jointly by the department of local government finance and the legislative services

agency. The county assessor shall forward a copy of the sales disclosure forms to the township assessors in the county. The forms may be used by the county assessing officials, the department of local government finance, and the legislative services agency for the purposes established in IC 6-1.1-4-13.6, sales ratio studies, equalization, adoption of rules under IC 6-1.1-31-3 and IC 6-1.1-31-6, and any other authorized purpose.
    (d) In a county containing a consolidated city, the auditor shall review each sales disclosure form and process any deduction for which the form serves as an application under IC 6-1.1-12-44. The auditor shall forward the sales disclosure form to the appropriate township assessor (if any). The township assessor shall verify the assessed valuation of the property for the assessment date to which the application applies and transmit that assessed valuation to the auditor. The township or county assessor shall forward the sales disclosure form to the department of local government finance and the legislative services agency in an electronic format specified jointly by the department of local government finance and the legislative services agency. The forms may be used by the county assessing officials, the county auditor, the department of local government finance, and the legislative services agency for the purposes established in IC 6-1.1-4-13.6, sales ratio studies, equalization, adoption of rules under IC 6-1.1-31-3 and IC 6-1.1-31-6, and any other authorized purpose.
    (e) If a sales disclosure form includes the telephone number or Social Security number of a party, the telephone number or Social Security number is confidential.
    (f) County assessing officials, county auditors, and other local officials may not establish procedures or requirements concerning sales disclosure forms that substantially differ from the procedures and requirements of this chapter.
    (g) Except as provided in subsection (h), a separate sales disclosure form is required for each parcel conveyed, regardless of whether more than one (1) parcel is conveyed under a single conveyance document.
    (h) Only one (1) sales disclosure form is required for the conveyance under a single conveyance document of two (2) or more contiguous parcels located entirely within a single taxing district.
As added by P.L.63-1993, SEC.1. Amended by P.L.6-1997, SEC.26; P.L.89-2001, SEC.2; P.L.90-2002, SEC.52; P.L.245-2003, SEC.6; P.L.1-2004, SEC.9 and P.L.23-2004, SEC.10; P.L.64-2004, SEC.1; P.L.228-2005, SEC.16; P.L.219-2007, SEC.16; P.L.144-2008, SEC.3; P.L.146-2008, SEC.94; P.L.1-2009, SEC.28.

IC 6-1.1-5.5-4
Filing fee; exceptions; distribution of revenue
    
Sec. 4. (a) Except as provided in subsection (b), a person filing a sales disclosure form under this chapter shall pay a fee of ten dollars ($10) to the county auditor.
    (b) No fee is due and payable under subsection (a) if the

conveyance to which the sales disclosure form filing applies is either or both of the following:
        (1) To a charity.
        (2) Under a conveyance document described in section 2(a)(2) or 2(a)(3) of this chapter.
    (c) Fifty percent (50%) of the revenue collected under this section and section 12 of this chapter shall be deposited in the county sales disclosure fund established under section 4.5 of this chapter. Fifty percent (50%) of the revenue shall be transferred to the state treasurer for deposit in the state assessment training fund established under section 4.7 of this chapter.
As added by P.L.63-1993, SEC.1. Amended by P.L.198-2001, SEC.21; P.L.178-2002, SEC.10; P.L.144-2008, SEC.4.

IC 6-1.1-5.5-4.5
Sales disclosure funds
    
Sec. 4.5. (a) The fiscal body of each county shall establish a sales disclosure fund. The county auditor shall deposit into the fund the money received under section 4 of this chapter. Money in the sales disclosure fund may be expended only for:
        (1) administration of this chapter;
        (2) verification of the information contained on a sales disclosure form;
        (3) training of assessing officials; or
        (4) purchasing computer software or hardware for a property record system.
    (b) The county fiscal body shall appropriate the money in the sales disclosure fund for the purposes stated in subsection (a) based on requests by assessing officials in the county.
As added by P.L.198-2001, SEC.22.

IC 6-1.1-5.5-4.7
Establishment of assessment training and administration fund; permitted uses; investment by treasurer of state; no reversion to state general fund
    
Sec. 4.7. (a) The assessment training and administration fund is established for the purpose of receiving fees deposited under section 4 of this chapter. Money in the fund may be used by:
        (1) the department of local government finance:
            (A) to cover expenses incurred in the development and administration of programs for the training of assessment officials and employees of the department, including the examination and certification program required by IC 6-1.1-35.5; and
            (B) for data base management expenses; or
        (2) the Indiana board to:
            (A) conduct appeal activities; or
            (B) pay for appeal services.
    (b) The treasurer of state shall invest the money in the fund not currently needed to meet the obligations of the fund in the same

manner as other public money may be invested.
    (c) Money in the fund at the end of a state fiscal year does not revert to the state general fund.
As added by P.L.198-2001, SEC.23. Amended by P.L.90-2002, SEC.53; P.L.1-2004, SEC.10; P.L.23-2004, SEC.11; P.L.2-2005, SEC.17; P.L.228-2005, SEC.17; P.L.182-2009(ss), SEC.91.

IC 6-1.1-5.5-5
Information required in form; exception
    
Revisor's Note: P.L.75-2009, SEC.5 required the printing of this section as follows.
    Sec. 5. (a) The department of local government finance shall prescribe a sales disclosure form for use under this chapter. The form prescribed by the department of local government finance must include at least the following information:
        (1) The key number (as defined in IC 6-1.1-1-8.5) of each parcel.
        (2) With respect to each parcel, whether the entire parcel is being conveyed.
        (3) The address of each improved parcel.
        (4) The date of the execution of the form.
        (5) The date the property was transferred.
        (6) Whether the transfer includes an interest in land or improvements, or both.
        (7) Whether the transfer includes personal property.
        (8) An estimate of the value of any personal property included in the transfer.
        (9) The name, address, and telephone number of:
            (A) each transferor and transferee; and
            (B) the person that prepared the form.
        (10) The mailing address to which the property tax bills or other official correspondence should be sent.
        (11) The ownership interest transferred.
        (12) The classification of the property (as residential, commercial, industrial, agricultural, vacant land, or other).
        (13) Subject to subsection (c), the total price actually paid or required to be paid in exchange for the conveyance, whether in terms of money, property, a service, an agreement, or other consideration, but excluding tax payments and payments for legal and other services that are incidental to the conveyance.
        (14) The terms of seller provided financing, such as interest rate, points, type of loan, amount of loan, and amortization period, and whether the borrower is personally liable for repayment of the loan.
        (15) Any family or business relationship existing between the transferor and the transferee.
        (16) A legal description of each parcel subject to the conveyance.
        (17) Whether the transferee is using the form to claim one (1) or more deductions under IC 6-1.1-12-44 for property taxes first

due and payable in a calendar year after 2008.
        (18) If the transferee uses the form to claim the standard deduction under IC 6-1.1-12-37, the information required for a standard deduction under IC 6-1.1-12-37.
        (19) Sufficient instructions and information to permit a party to terminate a standard deduction under IC 6-1.1-12-37 on any parcel of property on which the party or the spouse of the party will no longer be eligible for the standard deduction under IC 6-1.1-12-37 after the party or the party's spouse begins to reside at the property that is the subject of the sales disclosure form, including an explanation of the tax consequences and applicable penalties if a party unlawfully claims a standard deduction under IC 6-1.1-12-37.
        (20) Other information as required by the department of local government finance to carry out this chapter.
If a form under this section includes the telephone number or part or all of the Social Security number of a party, the telephone number or the Social Security number is confidential.
    (b) The instructions for completing the form described in subsection (a) must include the information described in IC 6-1.1-12-43(c)(1).
    (c) If the conveyance includes more than one (1) parcel as described in section 3(h) of this chapter, the form:
        (1) is not required to include the price referred to in subsection (a)(13) for each of the parcels subject to the conveyance; and
        (2) may state a single combined price for all of those parcels.
As added by P.L.63-1993, SEC.1. Amended by P.L.90-2002, SEC.54; P.L.64-2004, SEC.2; P.L.228-2005, SEC.18; P.L.154-2006, SEC.3; P.L.144-2008, SEC.5; P.L.75-2009, SEC.1; P.L.87-2009, SEC.1.

IC 6-1.1-5.5-6
Acceptance of form by county auditor; requirements for recording
    
Sec. 6. (a) The county auditor may not accept a conveyance document if:
        (1) the sales disclosure form signed by all the parties and attested as required under section 9 of this chapter is not included with the document; or
        (2) the sales disclosure form does not contain the information required by section 5(a)(1) through 5(a)(16) of this chapter as that section applies to the conveyance, subject to the obligation of a party to furnish or correct the information in the manner required by and subject to the penalty provisions of section 12 of this chapter.
    (b) The county recorder shall not record a conveyance document without evidence that the parties have filed with the county auditor a sales disclosure form approved by the county assessor as eligible for filing under section 3(b)(2) of this chapter.
As added by P.L.63-1993, SEC.1. Amended by P.L.6-1997, SEC.27; P.L.154-2006, SEC.4; P.L.144-2008, SEC.6.


IC 6-1.1-5.5-7
Repealed
    
(Repealed by P.L.6-1997, SEC.239.)

IC 6-1.1-5.5-8
Repealed
    
(Repealed by P.L.89-2001, SEC.8.)

IC 6-1.1-5.5-9
Sales disclosure form; attestation
    
Sec. 9. A person who signs a sales disclosure form shall attest in writing and under penalties of perjury that to the best of the person's knowledge and belief the information contained in the sales disclosure form is true and correct.
As added by P.L.63-1993, SEC.1.

IC 6-1.1-5.5-10 Version a
Criminal penalties and infractions
    
Note: This version of section effective until 7-1-2014. See also following version of this section, effective 7-1-2014.
    Sec. 10. (a) A person who knowingly and intentionally:
        (1) falsifies the value of transferred real property; or
        (2) omits or falsifies any information required to be provided in the sales disclosure form;
commits a Class C felony.
    (b) A public official who knowingly and intentionally accepts:
        (1) a sales disclosure document for filing that:
            (A) falsifies the value of transferred real property; or
            (B) omits or falsifies any information required to be provided in the sales disclosure form; or
        (2) a conveyance document for recording in violation of section 6 of this chapter;
commits a Class A infraction.
As added by P.L.63-1993, SEC.1. Amended by P.L.6-1997, SEC.28; P.L.178-2002, SEC.11; P.L.144-2008, SEC.7.

IC 6-1.1-5.5-10 Version b
Criminal penalties and infractions
    
Note: This version of section effective 7-1-2014. See also preceding version of this section, effective until 7-1-2014.
    Sec. 10. (a) A person who knowingly and intentionally:
        (1) falsifies the value of transferred real property; or
        (2) omits or falsifies any information required to be provided in the sales disclosure form;
commits a Level 5 felony.
    (b) A public official who knowingly and intentionally accepts:
        (1) a sales disclosure document for filing that:
            (A) falsifies the value of transferred real property; or
            (B) omits or falsifies any information required to be provided in the sales disclosure form; or


        (2) a conveyance document for recording in violation of section 6 of this chapter;
commits a Class A infraction.
As added by P.L.63-1993, SEC.1. Amended by P.L.6-1997, SEC.28; P.L.178-2002, SEC.11; P.L.144-2008, SEC.7; P.L.158-2013, SEC.80.

IC 6-1.1-5.5-11
Repealed
    
(Repealed by P.L.6-1997, SEC.239.)

IC 6-1.1-5.5-12
Civil penalties
    
Sec. 12. (a) A party to a conveyance who:
        (1) either:
            (A) files a sales disclosure form that does not contain all of the information required by this chapter; or
            (B) files a sales disclosure form that contains inaccurate information;
        and receives from the township assessor (in a county containing a consolidated city) or the county assessor (in any other county) written notice of the problems described in clause (A) or (B); and
        (2) fails to file a correct sales disclosure form that fully complies with all requirements of this chapter within thirty (30) days after the date of the notice under subdivision (1);
is subject to a penalty in the amount determined under subsection (b).
    (b) The amount of the penalty under subsection (a) is the greater of:
        (1) one hundred dollars ($100); or
        (2) twenty-five thousandths percent (0.025%) of the sale price of the real property transferred under the conveyance document.
    (c) The township assessor in a county containing a consolidated city, or the county assessor in any other county, shall:
        (1) determine the penalty imposed under this section;
        (2) assess the penalty to the party to a conveyance; and
        (3) notify the party to the conveyance that the penalty is payable not later than thirty (30) days after notice of the assessment.
    (d) The county auditor shall:
        (1) collect the penalty imposed under this section;
        (2) deposit penalty collections as required under section 4 of this chapter; and
        (3) notify the county prosecuting attorney of delinquent payments.
    (e) The county prosecuting attorney shall initiate an action to recover a delinquent penalty under this section. In a successful action against a person for a delinquent penalty, the court shall award the county prosecuting attorney reasonable attorney's fees.
As added by P.L.178-2002, SEC.12. Amended by P.L.144-2008, SEC.8.



IC 6-1.1-5.5-13
Expired
    
(Expired 1-1-2012 by P.L.16-2009, SEC.13.)