§ 7-202. Appraisal of inventoried items
West's Annotated Code of MarylandEstates and TrustsEffective: October 1, 2009
Effective: October 1, 2009
MD Code, Estates and Trusts, § 7-202
§ 7-202. Appraisal of inventoried items
(a)(1) Subject to the provisions of this section, the value of each item listed in the inventory shall be fairly appraised as of the date of death and stated in the inventory.
(b) The personal representative may apply for appraisal by appraisers designated by the register under § 2-301(a) or § 2-302 of this article.
(c)(1) Except as provided in paragraph (2) of this subsection, instead of an appraisal of the fair market value, real and leasehold property may be valued at:
(d) Instead of an appraisal of the fair market value, a motor vehicle may be valued by a personal representative on the basis of the average value of the motor vehicle set forth in:
(e)(1) The personal representative may employ a qualified and disinterested appraiser to assist the personal representative in ascertaining the fair market value, as of the date of the death of the decedent, of an asset the value of which may be fairly debatable.
Credits
Added by Acts 1974, c. 11, § 2, eff. July 1, 1974. Amended by Acts 1987, c. 710; Acts 1997, c. 693, § 1, eff. Jan. 1, 1998; Acts 1998, c. 714, § 1, eff. Oct. 1, 1998; Acts 2009, c. 405, § 1, eff. Oct. 1, 2009; Acts 2019, c. 8, § 5.
Formerly Art. 93, § 7-202.
MD Code, Estates and Trusts, § 7-202, MD EST & TRST § 7-202
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.
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