50 Ind. Admin. Code 22-2-9

Current through November 6, 2024

Section 50 IAC 22-2-9 - "Purchase" defined

Authority: IC 6-1.1-12.4-13

Affected: IC 6-1.1-12.4-3

Sec. 9.

"Purchase" means the act of obtaining title to real or personal property. A person is deemed to be purchasing property when:

(1) title to the property is transferred into the person's name; or

(2) a person assumes a legal obligation to pay the property taxes on the property.

50 IAC 22-2-9

Department of Local Government Finance; 50 IAC 22-2-9; filed Jun 15, 2006, 11:25 a.m.: 20060712-IR-050050144FRA