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#2238902 - 07/01/20 04:07 PM Indiana Property Tax Benefit form needed?
JoeG Offline
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Joined: Nov 2013
Posts: 124
DuPage county, IL
If our bank approves a home improvement loan that will be secured by a 2nd mortgage lien on a principal dwelling in IN, do we need to provide the Property Tax Benefit form to the applicant? If yes, must this form be signed to acknowledge receipt or may we just mail it out and document the loan file as to the date sent?

Thank you!
Last edited by JoeG; 07/01/20 04:10 PM.
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#2238949 - 07/02/20 12:50 PM Re: Indiana Property Tax Benefit form needed? JoeG
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 80,325
Galveston, TX
As I read the law, the settlement agent "may" have the form signed and send it in. I see no actual delivery requirements, but Dan Persful will probably chime in with more details.
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#2238993 - 07/02/20 06:26 PM Re: Indiana Property Tax Benefit form needed? JoeG
Dan Persfull Offline
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Dan Persfull
Joined: Aug 2002
Posts: 47,016
Bloomington, IN
The Tax Benefit Form is only required for first lien transactions.
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The opinions expressed are mine and they are not to be taken as legal advice.

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#2239000 - 07/02/20 07:06 PM Re: Indiana Property Tax Benefit form needed? JoeG
Dan Persfull Offline
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Dan Persfull
Joined: Aug 2002
Posts: 47,016
Bloomington, IN
I've lost my link to the document and I actually couldn't find a link to it on the IN Web site.

Anyway the following link will take you to the form. The form # is 51781.

https://www.bartholomew.in.gov/dedu...nefits-rev-1-20/file.html?tmpl=component

If you act as the settlement agent then you must have the borrower acknowledge they received a copy of the form and the acknowledgement they sign must be printed on gold or yellow color paper. The purpose for providing this form to the borrower is so they have information on the available property tax exemptions and their IC numbers they may be eligible for. The form is provided to the borrower at closing.

This document does not have to be sent anywhere (Randy's comment about sending it in) so if you are asking about something other than the Indiana Property Tax Benefit Form repost your question.
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

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#2239001 - 07/02/20 07:15 PM Re: Indiana Property Tax Benefit form needed? JoeG
Dan Persfull Offline
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Dan Persfull
Joined: Aug 2002
Posts: 47,016
Bloomington, IN
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

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#2239002 - 07/02/20 07:18 PM Re: Indiana Property Tax Benefit form needed? Dan Persfull
JoeG Offline
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Joined: Nov 2013
Posts: 124
DuPage county, IL
Thank you Dan! I have no further question on this topic.

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#2266878 - 02/25/22 01:44 PM Re: Indiana Property Tax Benefit form needed? JoeG
Cbigun Offline
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Joined: May 2016
Posts: 158
I have looked all over the IN.gov site for when this form is required to be given and have not been able to locate this information. Does anyone have a link?

If only for 1st lien.. is it required for all loans? Purchase, refinance, modifications?

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#2266956 - 02/28/22 03:13 PM Re: Indiana Property Tax Benefit form needed? JoeG
Dan Persfull Offline
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Dan Persfull
Joined: Aug 2002
Posts: 47,016
Bloomington, IN
It's required for first lien loans and it is provided to the consumer by the closing agent at the time of closing. IC 6-1.1-12-43
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The opinions expressed are mine and they are not to be taken as legal advice.

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#2266959 - 02/28/22 03:27 PM Re: Indiana Property Tax Benefit form needed? JoeG
JoeG Offline
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Joined: Nov 2013
Posts: 124
DuPage county, IL
I agree. It's for 1st liens only and provided at closing.

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#2267223 - 03/07/22 01:14 PM Re: Indiana Property Tax Benefit form needed? JoeG
Cbigun Offline
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Joined: May 2016
Posts: 158
Thank you both!

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