Evening Republican, Volume 14, Number 53, Rensselaer, Jasper County, 3 March 1910 — Instructions How to Proceed To Take Oat Mortgage Exemptions. [ARTICLE]

Instructions How to Proceed To Take Oat Mortgage Exemptions.

On account of the fact that many people do not understand the mortgage exemption laws and that the new exemptions must eoon be taken out by taxpayers, the following method of procedure is herewith given: Affidavits must be filed with the auditor between the first day of March and the first day of May, each year. An administrator can not take a deduction as administrator. A guardian can take a deduction for his ward. A corporation or copartnership can not take a deduction. An heir cannot take a deduction for a debt owing by the estate. The holder of an undivided interest in real estate can take a deduction for his part when the mortgage is a joint one. If an affidavit is made for exemption on account of an estate, all heirs must join. A trustee can not take' a deduction. A person is not entitled to more than one deduction, although owning real

estate in more than one county. Husband and wife can take a deduction when *he title is held jointly, but if they do this, then neither one cantake a second deduction for a mortgage held individually. No one other than the applicant can make the affidavit for deduction. The affidavits are not acted upon by the auditor, he ouly receives them. One can take a deduction on a “building and loan mortgage,” provided the secretary of the association furnishes evidence of the indebtedness due. _ Applicants should take sufficient interest to see that their affidavits are actually filed, as otherwise there is no way of giving them proper credit. It often happens that these affidavits are entrusted to others to file and are forgotten by the latter, the applicant thus losing the benefit the law intended to give him. Therefore be sure your affidavit is filed between March Ist and May Ist. These suggestions are offered for the sole purpose of affording every one entitled to a deduction an opportunity of getting same. Unless they are followed there is no posible way of granting the deduction.

Fred Schultz has just concluded a deal in Union township. He sold 30 acres of land to Paul Makus for S4O per acre and then purchased of his brother, John Schultz, 55 acres of land adjoining his own farm, and for which he paid S7O per acre. He will move the house on John’s farm over to his own and join it to his house, making him a commodious residence. Fred is one of the hustling farmers of Union township and his industry is putting him to the front.

State Representative John G. Brown of Monon, was in Rensselaer a time this morning. He has been busy raising hogs since he returned from the state legislature last March. He realized then that hogs were going up and he bought all the shoats that he could and made good on them. Now he has 160 head of hogs, part of them ready for the market, which he thinks will bring 12 cents a pound. Mr. Brown will probably be a candidate for the renomination for representative and on his record we believe that the republicans of his district will he unanimously for him.