There is a newer version
of
this Section
2018 Indiana Code
TITLE 6. Taxation
ARTICLE 1.1. PROPERTY TAXES
CHAPTER 10. Exemptions
6-1.1-10-41. Exempt property purchased under contract of sale by person not qualifying for exemption
Universal Citation: IN Code § 6-1.1-10-41 (2018)
IC 6-1.1-10-41 Exempt property purchased under contract of sale by person not qualifying for exemption
Sec. 41. (a) This section does not apply to a contract described in section 5.5 of this chapter.
(b) If real or personal property that is exempt from taxation under section 2 or 4 of this chapter:
(1) is being purchased under a contract of sale by another person:
(A) whose real or personal property is not exempt from taxation; and
(B) who is not engaged in an exempt purpose with the real or personal property; and
(2) the contract of sale does not make the real or personal property taxable;
the real or personal property shall be assessed and taxed as if the real or personal property were owned by the purchaser or the purchaser's assignee.
As added by P.L.31-1994, SEC.1.
Disclaimer: These codes may not be the most recent version. Indiana may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
