Section 13-208 – Payment of Tax
(a) Transfer tax on an instrument of writing that is taxable under this subtitle shall be paid to the clerk of the circuit court where the instrument of writing is recorded or to the Department. (b) An instrument of writing taxable under this subtitle may not be recorded in any county unless a statement is attached to […]
Section 13-209 – Distribution of Revenue
(a) (1) Before any other distribution under this section, in any fiscal year that bonds secured by a pledge of the State transfer tax are outstanding, the revenue from the transfer tax shall be used to pay, as and when due, the principal of and interest on the bonds. (2) The Department shall deduct the cost of administering […]
Section 13-201 – “Transfer Tax” Defined
In this subtitle, “transfer tax” means the tax imposed under this subtitle.
Section 13-202 – Imposition of Tax
Except as otherwise provided in this subtitle, a transfer tax is imposed on an instrument of writing: (1) recorded with the clerk of the circuit court for a county; or (2) filed with the Department and described in § 12-103(d) of this article.
Section 13-203 – Rate of Tax; Exemption From Tax
(a) (1) Except as provided in subsections (a–1) and (b) of this section, the rate of the transfer tax is 0.5% of the consideration payable for the instrument of writing. (2) The consideration: (i) includes the amount of any mortgage or deed of trust assumed by the grantee; and (ii) subject to item (i) of this paragraph, includes only the […]
Section 13-204 – Evidence of Consideration
The consideration payable shall be described in: (1) the recitals or the acknowledgment of the instrument of writing; or (2) a statement under oath that accompanies the instrument of writing and that is signed by a party to the instrument or by an agent of a party.
Section 13-205 – Calculation of Tax
(a) If a lease of real property creating a perpetually renewable ground rent is recorded without a transfer of the reversionary estate for full consideration other than the ground rent being recorded at the same time, the transfer tax applies to the redemption sum as determined under § 8–804 of the Real Property Article plus any […]
Section 13-206 – Tax on Corporate, Limited Liability Company, and Partnership Transfers
Except as provided in § 13-207(a)(9), (10), (15), and (16) of this subtitle, the transfer tax applies to conveyances that transfer the real property of a corporation to its stockholders, the real property of a limited liability company to its members, or the real property of a partnership to its partners.
Section 13-207 – Exemptions From Transfer Tax
(a) An instrument of writing is not subject to transfer tax to the same extent that it is not subject to recordation tax under: (1) § 12–108(a) of this article (Transfer to government or public agency); (2) § 12–108(c) of this article (Transfer between relatives and domestic partners); (3) § 12–108(d) of this article (Transfer between spouses and domestic […]