Bulletin: IN2013014

Date:
November 26, 2013
To:
All Indiana Issuing Offices
RE:
LEGISLATIVE UPDATES - Indiana Inheritance Tax

Dear Associates:

House Enrolled Act 1001 passed by the Indiana Legislature in the 2013 legislative session repealed Indiana’s inheritance tax for individuals dying after December 31, 2012. As a result, no tax has to be paid, no inheritance tax forms need to be filed, and there is no longer a lien for unpaid inheritance tax against real property for persons who died as of January 1, 2013.

Indiana’s inheritance tax still applies for individuals who have died prior to January 1, 2013. As a reminder, the lien for unpaid inheritance tax expires ten years after date of death. For more information, go to the following Indiana Department of Revenue link: http://www.in.gov/dor/3807.htm

If you have any questions relating to this or other bulletins, please contact a Stewart Title Guaranty Company underwriter.

For on-line viewing of this and other bulletins, please log onto www.vuwriter.com.

THIS BULLETIN IS FURNISHED TO INFORM YOU OF CURRENT DEVELOPMENTS. AS A REMINDER, YOU ARE CHARGED WITH KNOWLEDGE OF THE CONTENT ON VIRTUAL UNDERWRITER  AS IT EXISTS FROM TIME TO TIME AS IT APPLIES TO YOU, AS WELL AS ANY OTHER INSTRUCTIONS. OUR UNDERWRITING AGREEMENTS DO NOT AUTHORIZE OUR ISSUING AGENTS TO ENGAGE IN SETTLEMENTS OR CLOSINGS ON BEHALF OF STEWART TITLE GUARANTY COMPANY. THIS BULLETIN IS NOT INTENDED TO DIRECT YOUR ESCROW OR SETTLEMENT PRACTICES OR TO CHANGE PROVISIONS OF APPLICABLE UNDERWRITING AGREEMENTS. CONFIDENTIAL, PROPRIETARY, OR NONPUBLIC PERSONAL INFORMATION SHOULD NEVER BE SHARED OR DISSEMINATED EXCEPT AS ALLOWED BY LAW. IF APPLICABLE STATE LAW OR REGULATION IMPOSES ADDITIONAL REQUIREMENTS, YOU SHOULD CONTINUE TO COMPLY WITH THOSE REQUIREMENTS.

References

Bulletins Replaced:
None
Related Bulletins:
None
Underwriting Manual:
None
Exceptions Manual:
None
Forms:
None