Fillable State Form 46021 - Sales Disclosure Form (Page 4 of 13) in pdf

INDIANA SALES DISCLOSURE FORM INSTRUCTIONS

Page 1

INSTRUCTIONS

Indiana law requires a sales disclosure form (SDF) to be reviewed for completeness by the county assessor before being forwarded to the county

auditor and must be completed whenever a conveyance document (see definition below) is filed. The county auditor may not accept a conveyance if

(1) the sales disclosure form is not included with the conveyance document; or (2) the sales disclosure form is incomplete and/or is not stamped by

the county assessor. A separate SDF is required for each parcel conveyed, regardless of whether more than one (1) parcel is conveyed under a

single conveyance document. However, only one (1) SDF is required if there is a single conveyance document that conveys two (2) or more

contiguous parcels located entirely within a single taxing district. A person filing a sales disclosure form marked only with sales conditions subject

to a disclosure filing fee shall pay a fee of ten dollars ($10.00) to the county auditor.

Definitions

Conveyance Document ‐ means any transfer of a real property interest for valuable consideration to include any document, deed, contract of sale,

agreement, judgment, lease that includes the fee simple estate and is for a period in excess of ninety (90) years, quitclaim deed serving as a source

of title, document presented for recording that purports to transfer a real property interest for valuable consideration. Filers are required to

disclose, but are not subject to a fee when filing the following: documents for compulsory transactions as a result of foreclosure or express threat of

foreclosure, divorce, court order, judgment, condemnation, or probate; documents involving the partition of land between tenants in common, joint

tenants, or tenants by the entirety; transfer to a charity, not‐for‐profit organization, or government; or easements or right‐of‐way grants. Filers

should note that the following items do NOT require a sales disclosure form be prepared: security interest documents such as mortgages or trust

deeds; leases less than 90 years; agreements and other documents for mergers, consolidations, and incorporations involving solely non‐listed stock;

quitclaim deeds not serving as a source of title. Additionally a sales disclosure form is not required for a transfer for no consideration or a gift, or

when rerecording to correct prior recorded document.

Personal property – means items that are not attached (built‐in or affixed) to the real estate (land and buildings). This might include items such as

washers, dryers, window treatments, stoves and refrigerators. Other items considered personal property are boats and other vehicles, inventories

(livestock, goods in process or for trade, or agricultural commodities) and machinery used in farming or manufacturing.

A. PROPERTY TRANSFERRED

A single sales disclosure form may include multiple properties as long as the parcels are contiguous and located entirely in a single taxing district.

All parcels and property listed in this box must be conveyed on a single conveyance document. Parcels and property on separate conveyance

documents must be submitted on separate sales disclosure forms. If the transaction consists of more than three parcels, an additional list of parcel

numbers and lot sizes must be attached to this document.

Property Number: State and/or local required property number(s) (including all dashes and decimals on the sales form). An identification

number that is assigned to a parcel of land to identify that parcel from any other parcel within a given taxing jurisdiction. List all parcels

separately using separate attachments if needed. Should the sales disclosure form be submitted prior to assignment of the State mandated 18

digit parcel number, either the parent parcel number or the name of the subdivision and the lot number as provided by the county planning

department must be included. If the property is personal property the county assigned ID is required.

Split: Check if the parcel is split, or section off, from another parcel included on this sales disclosure form.

Land: Check if this parcel is land.

Improvement: Check if this parcel includes buildings or structures.

Complete Address of Property: Provide the street address or geographic location of the taxable real estate. A P.O box address is not acceptable.

Complete Tax Billing Address (if different from property address): Provide the owner mailing address for the owner of record. A P.O. box is

acceptable.

Legal Description: Provide a legal description of real property by government survey, metes and bounds, or lot numbers of a recorded plat. A

legal description is especially important for metes and bounds descriptions and new parcels. The legal description may be provided as an

attachment to and/or uploaded with the sales disclosure form.

B. CONDITIONS

The information in this section is used to determine sales characteristics, establish market value, and determine applicability of the sale and for use

in ratio or other studies. The appropriate response should be filled in for all conditions that apply to the sale. Please note that while indicating that

certain conditions will result in not paying a filing fee, the buyer/grantee or seller/grantor is still responsible for completing the form in full.

A transfer of real property interest for valuable consideration: A transfer of a real property in exchange for money, performance, or a promise

of performance.

Buyer is an adjacent property owner: A person who lives on a border of listed property.

Vacant land: A parcel in which there is no improvement value.

Exchange for the other real property (“Trade”): An exchange of property for another property, commodity, service, or item of like value.

Trading does not require the use of money, however money may be used for a portion, but not all, of the trade.

Seller Paid Points: An incentive by the seller to acquire a buyer.

Change planned in the primary use of the property: Identify if the property’s classification will be changed from its current status, i.e.,

residential to commercial. Describe in special circumstances, table C, item 3.

Existence of family or business relationship between buyer and seller: Whether the buyer and seller have a mutual interest in the listed

property.

Land contract: Contract term and Contract date: A purchase allowing the grantee possession of the property and the grantor retaining the deed

to the property until the terms of the contract are met. The contract term is listed as a two digit number.

Personal property included in transfer: Property that is not permanently affixed to and not a part of the real estate, and further defined by state

statute and rule.

State Form 46021 - Sales Disclosure Form Page 4

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