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Home Indiana Information
Indiana Information PDF Print E-mail
VESTING                
  • The following tenancy types are recognized: Joint Tenancy(requires express language); Tenancy in Common and Tenancy by the Entirety(presumed)              
  • The non-titled spouse is not required to sign any security instruments              
  • Acceptable instruments for transferring ownership on real property: Warranty Deed (sales disclosure form required on conveyances only)              
                 
RELEASE              
                 
  • Acceptable instruments to cancel mortgages: Release              
                 
POWER OF ATTORNEY                 
  • Power must be specified and recorded              
                 
TAX DUE DATES                 
  • Taxes are due and payable May 10th and November 10th and become delinquent May 11th and November 11th              
  • Taxes are assessed for the current calendar year; but payable the following year              
  • Make Checks payable to County Treasurer              
  • Property taxes become a lien on March 1st              
                 
MORTGAGE/TRANSFER TAX
  • There is a Mortgage Tax County Intangible Tax on annual unpaid balance of mortgage pursuant to state law paid by lender on an annual return basis.              
                 
SECURITY INSTRUMENT RECORDING REQUIREMENTS          
  • Witnesses are NOT required              
  • Tax identification is not required to be on the document              
  • All original signatures must have the name printed or typed beneath signature lines              
  • Name of the person who prepared the deed must appear at the end of the instrument              
  • The preparer must be an attorney or the Grantor.(conveyance docs)              
  • The notary's seal or stamp must be impressed on all documents              
                 
WHO MAY SERVE AS TRUSTEE ON DEED OF TRUST              
  • Individual (Non-resident) ; Individual (Resident); Corporate Fiduciary              
                 
STATUTE OF LIMITATIONS     
  • MORTGAGES - * 21 years from mturity date or, if none, from the date of mortgage             
  • JUDGMENTS IN FAVOR OF U.S. - 20 years              
  • JUDGMENT LIENS IN FAVOR OF THE STATE OF INDIANA - 10 years              
  • ALL OTHER JUDGMENTS - 10 years              
  • STATE OF INDIANA TAX LIENS - 10 years                
  • FEDERAL TAX LIENS - 10 years              
  • MECHANICS LIEN - 1 year              
  • ESTATE TAX - *10 years from date of death         
  • FINANCING STATEMENT - *5 years or release of mortgage              
  • PERSONAL PROPERTY TAX LIENS - 10 years              
  • WORKERS COMPENSATION TAX LIENS - 10 years
 

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