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New Sales Disclosure Form - Real Estate and Land Use News

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Real Estate and Land Use News

Posted on: Feb 1, 2021

By April Pyatt

Effective as of Jan. 1, 2021, a new revised Sales Disclosure Form is required in Indiana. A Sales Disclosure Form must be completed and filed in Indiana for any transfer of a real property interest for valuable consideration that is transferred under a “conveyance document.” The sales price information and other data set forth in the Sales Disclosure Forms are used by Indiana assessors in the determination of the annual market-based adjustments of assessed property values. Per the Oct. 6, 2020 Memo from Barry Wood, Assessment Division Director, Local Government Finance (department,) some substantive changes to the Sales Disclosure Form include “the creation of a separate addendum for agricultural or residential property, as well as an addendum for commercial or industrial property. The intent in creating a separate addendum for the property classes is to streamline the filing process as well as assisting the assessing official to identify the property being conveyed.”

For more information regarding the new Sales Disclosure Form, go here.

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