{"data":{"id":"us-in/ic-6-1.1-12.8-7","jurisdiction":"us-in","citation":"IC 6-1.1-12.8-7","heading":"Change in ownership","body":"Sec. 7. (a) If ownership of the residence in inventory changes:\n(1) a new owner that is a residential builder for which the property is a residence in inventory may claim the deduction under this chapter; and\n(2) the deduction may not be applied for an assessment date other than the assessment dates to which the deduction could have applied under section 3 of this chapter if ownership had not changed.\n(b) A person who owns a residence in inventory and claims a deduction under this chapter shall provide to the county auditor a notice that:\n(1) informs the auditor of a transfer of the ownership of the residence in inventory; and\n(2) indicates whether the new owner is eligible to receive a deduction under this chapter.\nThe notice required by this subsection must be submitted to the county auditor at the same time that a sales disclosure form is filed under IC 6-1.1-5.5.","path":["TITLE 6. TAXATION","ARTICLE 1.1. PROPERTY TAXES","Chapter 12.8. Deduction for Residence in Inventory"],"source_url":"https://iga.in.gov/ic/2026/Title_6.html#6-1.1-12.8-7","current_through":"2026","vintage":"2026","retrieved_at":"2026-09-09T01:51:39Z","sha256":"05d69a85f078398d4a7d4aac22330eba60529b6ae7dadc3582ffe061b6916fff","source_id":"us-in","stale":false,"prev":"us-in/ic-6-1.1-12.8-6","next":"us-in/ic-6-1.1-12.8-8"},"notice":"GroundRules: Original legal text. Not legal advice."}