How to Access Property Records in Indiana

What Information Can You Find in Indiana Property Records?

There are various types of property records in Indiana. They all contain different information. Some of the information you can find in property records includes:

Deeds and Conveyance Records

Deeds are one of the most common property records types, often taking center stage in real estate deals. These documents transfer ownership of a property and validate title to the land. Deeds contain a lot of information, including language that conveys the transfer from one person to another. They may also include restrictions, easements, and covenants.

Some of the information contained in a deed includes:

• Name of the Seller/Grantor and Buyer/Grantee.
• A detailed description of the property.
• Maps and plats along with boundaries and sometimes surveys showing the acreage and edges of the property.
• Conveyance language explaining the ownership transfer from one person or entity to another.
• Notarization and execution are at the bottom, where everyone signs to make it legal.

Property Tax Records

Indiana has one of the country's lowest property tax rates (0.75 of the property's value). The average Indiana resident pays about $1,371, which is far less than the national average of $2,795. Each county sets its own tax rate and uses the money for emergency services, police, schools, road maintenance, and other local services.

To learn more about Indiana's property tax data, you can use this stats tool.

The following information usually appears in a standard property tax record:

• Property Values - The document will show the various assessed values necessary for calculating property taxes.
• Tax Calculations -The record will show a summary of the calculations leading to the final owed amount.
• Deductions - The report may show all applicable deductions.
• Local Tax Rate - Each property is taxed based on the local tax rate. The rate should, therefore, appear in the document.
• Owner Information - The document will show details about the owner, such as their name (s), address, and contact information.

Property taxes in Indiana are calculated by multiplying the property's assessed value after deductions by the local tax rate. However, there are a few other processes that can lengthen the calculations. For example, if a land or house is assessed at $200,000, it is the gross assessed value. If it is the owner's primary residence, the property is eligible for Homestead Standard Deduction ($45,000 OR 60% of the gross assessed value, whichever is less). The property is also eligible for the Supplemental Homestead Deduction (35% of the remaining value to $600,000; 25% above $600,000).

After applying the deductions, the resulting value is the assessed value, which is used to calculate the tax bill. In this example, the assessed value would be $100,750. The value is then calculated per $100; the property is charged 70.9 cents for every $100. The resulting tax bill would, therefore, amount to $714.32. In addition, the total tax bill can be reduced further by subtracting property tax credits. For example, for homestead properties, the property tax caps prevent the owner from paying over 1% of the grossed assessed value in taxes. However, in this example, the owner would not receive an additional credit for the tax caps.

How Often is Property Tax in Indiana Assessed?

Before 2002, assessors assessed Indiana properties every 5 to 10 years. Unfortunately, the timespan led to a significant change in property tax bills, resulting in a sudden value increase. Today, assessors assess property taxes annually. The standard process is as follows:

• Valuation - The assessor values the property using mass appraisal techniques. These techniques involve examining the property in conjunction with similar properties in the area. The assessor will consider the property's age, condition, and grade.
• Annual Adjustment - The annual adjustment, also known as "trending", is when the assessor examines each year's property sales data to determine whether the area's property values should change to match the market values from recent sales.
• Tax Calculations - With the grossed assessed value, the assessor calculates taxes based on the local tax rate and applies all valid deductions. The assessor may then send a notice of assessment of Form 11 showing the taxes owed. Alternatively, homeowners may access their tax bill or TS-1 tax comparison statement.
• Appeals - If the homeowners feel the assessment does not reflect the property's market value-in-use, they may appeal by contacting the local assessor by June 15th after receiving Form 11.

Property Liens and Encumbrances in Indiana

Encumbrances like liens can soil a property's reputation and make it very hard to sell. There are two main types of liens: voluntary liens and involuntary liens.

Voluntary Liens

Voluntary liens are imposed on your deed with your approval. This occurs when you borrow money and use your house as the collateral. You do so voluntarily.

• Mortgage Liens - Whenever you cannot pay cash for your home, you must take out a mortgage. Lenders will give you the money to buy the house as long as you agree to make monthly payments with interest and allow them to place a lien on the property. If you default on the loan, they can use the lien to foreclose and sell the property at auction to get back their money.

  The following information is outlined in a standard mortgage record in Indiana:

  • Names of the Parties - The document will identify the parties in the transaction, such as the mortgagor and mortgagee.
  • Property Description - The document will show a detailed description of the mortgaged property.
  • Loan Terms - The record will show the loan terms, including the length of time they will be in effect.
  • Payment Obligations - The payment obligation section shows the deadline for each payment and how often they should be, plus the minimum amount.
  • Penalties - The loan should cover the penalties applied to the borrower for late or missed payments.

Involuntary Liens

Involuntary liens are those which you do not choose. When you owe a debt and do not pay, the party that you owe can place a lien on your property and eventually foreclose.

• Mechanic's Liens - Contractors, subcontractors, laborers, and material suppliers can place a lien on a property if they do work and the homeowner does not pay them. The contractor must follow strict rules and a tight deadline (60 days from completion and non-payment), and mechanic's liens do not last forever.
• Tax Liens - If you do not pay your property taxes on time, the county assessor can impose a tax lien on your property. That means they can foreclose and sell your house at auction if you do not resolve the issue quickly.
• Judgment Liens - Creditors have the right to impose judgment liens on your property if you owe a debt and refuse to pay. They must first sue you in court, and then if the judge rules in their favor (the judgment), they can place a lien, foreclose, and sell your home to get their money back.

The Process of Property Liens in Indiana

The following is the process of placing a mechanic's lien in the state:

• The first step is filling out the lien form. The form should include information such as the amount claimed, the owner's details, the legal description of the land, and the claimant's name and address. The lien must be a sworn statement but may be verified by an attorney on behalf of the claimant. Indiana laws are specific about the property owner's identity, so claimants must find the actual property owner, not just the reputed owner.
• Next, the claimant must prepare duplicates of the form and sign them in the presence of a notary. The claimants must then file both notarized copies with the county recorder's office. The office usually charges a fee for the recording.
• The county recorder may serve the property owner with a notice in three days. The lien will then stay in effect for one year.

Easements and Covenants

Easements are legal rights to enter property without the owner's consent. A good example is a power company with telephone poles on someone's private land. The company can enter the property and maintain its lines without first asking.

Covenants are slightly different. These are rules about how you can use the land. Most often, you see them in condo developments and other gated communities. Another example would be land near a wildlife preserve with rules about not developing or disturbing the animals.

Plats and Surveys

Plats and surveys are both types of maps showing the boundaries of a specific property. Plats, however, show the boundaries of other neighboring properties, while surveys do not.

The information in survey documents differs, but the general information includes the following:

• Property Description - The property survey document will show a legal description of the property, including details such as the lot size and dimensions.
• Boundary Lines - The record will show the property's boundaries, indicating each boundary's exact locations and lengths.
• Improvements and Structures - The document will identify existing structures such as fences, utility lines, and buildings in their exact locations.
• Topographic Features - Topographic features such as elevation points and contours may appear in the document.

Property Descriptions and Boundaries in Indiana

Most people don't think about the property's legal description, which can be found on many documents, such as deeds, appraisals, mortgages, liens, property taxes, etc.

A legal property description uses words and landmarks to clearly identify the property so anyone can find it. These may vary in format and style depending on who first wrote it.

Surveys measure land and define the property's boundaries. They include maps and figures. Surveyors use specialized equipment to measure boundaries.

A boundary dispute could ensue whenever someone encroaches onto another person's land. These often end up in court. The judge must decide who owns what and where the boundaries lie. They sometimes enlist the help of professional surveyors to provide expert testimony.

Foreclosures

When someone has a lien on their property and fails to pay the debt, the debtor has the right to foreclose and sell the property. Foreclosure homes are called "distressed properties". Investors often look for foreclosure homes to buy cheap and sell at a profit.