Indiana Code 6-1.1-1-9. “Owner”
(b) Except as otherwise provided in this section, the holder of the legal title to personal property, or the legal title in fee to real property, is:
Terms Used In Indiana Code 6-1.1-1-9
- Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
- Grantor: The person who establishes a trust and places property into it.
- Life estate: A property interest limited in duration to the life of the individual holding the interest (life tenant).
- Mortgagee: The person to whom property is mortgaged and who has loaned the money.
- Personal property: includes goods, chattels, evidences of debt, and things in action. See Indiana Code 1-1-4-5
- Personal property: All property that is not real property.
- Property: includes personal and real property. See Indiana Code 1-1-4-5
- real property: include lands, tenements, and hereditaments. See Indiana Code 1-1-4-5
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
- United States: includes the District of Columbia and the commonwealths, possessions, states in free association with the United States, and the territories. See Indiana Code 1-1-4-5
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
(2) the owner of that property who is designated as the grantee, buyer, or other equivalent term in the title document or bureau of motor vehicles affidavit of sale or disposal, if a title document is ordinarily issued to an owner for that type of property.
(c) When title to tangible property passes on the assessment date of any year, only the person obtaining title is the owner of that property on the assessment date.
(d) When the mortgagee of real property is in possession of the mortgaged premises, the mortgagee is the owner of that property.
(e) When personal property is security for a debt and the debtor is in possession of the property, the debtor is the owner of that property.
(f) When a life tenant of real property is in possession of the real property, only the life tenant is the owner of that property.
(g) When the grantor of a qualified personal residence trust created under United States Treasury Regulation 25.2702-5(c)(2) is:
(1) in possession of the real property transferred to the trust; and
(2) entitled to occupy the real property rent free under the terms of the trust;
the grantor is the owner of that real property.
[Pre-1975 Property Tax Recodification Citation: 6-1-20-9.]
Formerly: Acts 1975, P.L.47, SEC.1. As amended by P.L.101-2008, SEC.1; P.L.255-2017, SEC.4; P.L.235-2017, SEC.2; P.L.86-2018, SEC.23; P.L.257-2019, SEC.11.