§ 9-105. Instruments or deeds of distribution assigning, transferring, or releasing assets to d...
West's Annotated Code of MarylandEstates and TrustsEffective: July 1, 2011
Effective: July 1, 2011
MD Code, Estates and Trusts, § 9-105
§ 9-105. Instruments or deeds of distribution assigning, transferring, or releasing assets to distributee
(a) When distribution in kind is made, the personal representative shall execute and deliver an instrument or deed of distribution assigning, transferring, or releasing the assets to the distributee as evidence of the title of the distributee to the property.
(b) Costs payable as a condition of the recordation of a deed shall be paid by the estate.
(c)(1) In this subsection, “consideration” does not include the amount of any obligation under a mortgage or deed of trust encumbering the transferred property.
(2) A recordation tax, transfer tax, or any other State or local excise tax may not be imposed on the transfer by a personal representative of property or an interest in property without consideration or on the recordation of an instrument executed by a personal representative that transfers property or an interest in property without consideration.
Credits
Added by Acts 1974, c. 11, § 2, eff. July 1, 1974. Amended by Acts 2011, c. 65, § 1, eff. April 12, 2011; Acts 2011, c. 449, § 1, eff. July 1, 2011.
Formerly Art. 93, § 9-105.
MD Code, Estates and Trusts, § 9-105, MD EST & TRST § 9-105
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
| End of Document |