Sec. 17.9. A trust is entitled to a deduction under section 9, 11, 13, 14, 16, or 17.4 (before its expiration) of this chapter for real property owned by the trust and occupied by an individual if the county auditor determines that the individual:

(1) upon verification in the body of the deed or otherwise, has either:

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Terms Used In Indiana Code 6-1.1-12-17.9

  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Property: includes personal and real property. See Indiana Code 1-1-4-5
  • United States: includes the District of Columbia and the commonwealths, possessions, states in free association with the United States, and the territories. See Indiana Code 1-1-4-5
(A) a beneficial interest in the trust; or

(B) the right to occupy the real property rent free under the terms of a qualified personal residence trust created by the individual under United States Treasury Regulation 25.2702-5(c)(2); and

(2) otherwise qualifies for the deduction.

As added by P.L.95-2007, SEC.2. Amended by P.L.101-2008, SEC.2; P.L.250-2015, SEC.6; P.L.190-2016, SEC.1.

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