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Post by tomthreetoes on Oct 31, 2013 17:16:50 GMT -5
I know that new regulations have been enacted regarding trusts. Our property is in a trust with my wife and I and one nonhunting brother as trust holders, with the wife and I holding an 80% share. Does this exclude us from a land owner exemption?
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Post by morrison on Nov 4, 2013 11:47:06 GMT -5
According to the Indiana Administrative Code posted below, as long as you are named on the trust and the trust is made up solely of immediate family members, you would qualify for the exemption.
312 IAC 9-2-14 Fishing, hunting, and trapping without a license by owners and lessees of farmland
Authority: IC 14-22-6-1; IC 14-22-11-1
Affected: IC 14-22; IC 29-1-1-3; IC 30-4-1-2
Sec. 1. (a) An owner or a lessee of farmland, and immediate family members that live with the owner or lessee, if exempted under IC 14-22-11-1, may:
(1) fish;
(2) hunt; or
(3) trap;
on the farmland without obtaining a license under this article.
(b) As used in this section, "owner" means an individual:
(1) listed on the tax assessment roll and whose name appears on the title to the property;
(2) who is a shareholder, partner, member, or owner of a business entity comprised solely of the members of an immediate family; or
(3) serving as a trustee and any named trust beneficiaries that are comprised solely of the members of an immediate family for trust property as defined in IC 30-4-1-2.
The term does not include an individual that is an heir to an estate as defined in IC 29-1-1-3.
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