Ind. Code 6.1.1-5.5 governs the filing of sales disclosure forms. According to that statute, certain transactions are exempt from the sales disclosure form requirement. As of July 1, 2008, the following documents will not require a sales disclosure form:
- mortgages
- affidavits of survivorship or heirship affidavits
- affidavits showing a name change or showing proof two names relate to the same person
- trustee’s deeds
- deeds to correct prior recorded document, such as a scrivener’s affidavit or corrective deed
- restrictive covenants
- plats, surveys or engineer’s corrections
- leases lasting less than 90 years
Certain documents may or may not require a sales disclosure form. To determine the status, the following documents must first be reviewed by the Marion County Assessor:
- quitclaim deeds (those not serving as a source of title will not require a form)
- deeds for a conveyance which is a gift, or where the price has been discounted
- deeds conveying property to a charity, not-for-profit, or government institution
- easements
- right of way grants or vacations
The following documents require a sales disclosure form, but will incur no sales disclosure fee:
- deeds to add a spouse to the title of the property
- deeds for a conveyance made in relation to a foreclosure
- sheriff’s deeds or marshal’s deeds
- tax title deeds or auditor’s deeds
- deeds for a conveyance made in relation to a divorce
- deeds for a conveyance made pursuant to court order
- personal representative’s or executor’s or administrator’s deeds that convey property to a beneficiary of the estate
- deeds to add or remove an owner
- guardian’s deed conveying property to the ward
- deeds conveying property to a trust
For more information about filing sales disclosure forms, please go to www.indygov.org/assessor, then click on Marion County Assessor, then click on the Sales Disclosure link for instructions and FAQs.