Change in ownership

# (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

# (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.

(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:

(1) informs the auditor of a transfer of the ownership of the residence in inventory; and

(2) indicates whether the new owner is eligible to receive a deduction under this chapter.
The 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.
As added by P.L.175-2011, SEC.2.