Real property interest created from previously existing parcel or
parcels; auditor's endorsement; tax lien; apportionment of
assessed value and delinquent taxes
Sec. 5.5. (a) Before an owner records a transfer of an ownership
interest in a parcel of real property that is created after the person
became owner of the real property and is created either from a larger
previously existing parcel or a combination of previously existing
smaller parcels, the owner must submit, except as provided in section
9 of this chapter, the instrument transferring the real property to the
county auditor to be entered for taxation.
(b) The county auditor, except as provided in section 9 of this
chapter, shall endorse on the instrument "duly entered for taxation
subject to final acceptance for transfer" or another endorsement
authorized under section 4 of this chapter.
(c) A lien for and the duty to pay property taxes that are due and
owing is not released or otherwise extinguished if a county auditor
endorses an instrument of transfer under this section. Property taxes
that are due and owing on the affected parcel of property may be
collected as if the county auditor had not endorsed the instrument of
transfer.
(d) Except as provided in section 9 of this chapter, before the
county auditor may transfer real property described in subsection (a)
on the last assessment list or apportion the assessed value of the real
property among the owners, the owner must pay or otherwise satisfy
all property taxes for which the due date has passed as of the date of
transfer on each of the parcels of real property from which the
transferred property is derived by paying the property tax to the
county treasurer of the county in which the real property is located.
The county auditor, except as provided in section 9 of this chapter,
may not apportion delinquent taxes described in this subsection
among the owners.
As added by P.L.51-1997, SEC.3. Amended by P.L.38-1998, SEC.1.
Last modified: May 28, 2006