IC 6-1.1-23.9-2.5: "Severed interest"

Sec. 2.5. "Severed interest" means:

(1) an improvement;

(2) mineral rights;

(3) air rights;

(4) water rights; or

(5) other rights in property in, on, under, or above the land;

for which the owner or holder of the interest identified in the current real property tax records of the county auditor is sent a separate property tax statement.