§ 17-523. Statement relating to recordation or transfer taxes required
West's Annotated Code of MarylandBusiness Occupations and Professions
MD Code, Business Occupations & Professions, § 17-523
§ 17-523. Statement relating to recordation or transfer taxes required
(a) Each real estate contract submitted to a party by a real estate broker, an associate real estate broker, or a real estate salesperson for use in the sale of residential property used as a dwelling place for one or two single-family units shall contain, in the manner provided under subsection (b) of this section, the following statement, as required by § 14-117 of the Real Property Article:
“Section 14-104 of the Real Property Article of the Annotated Code of Maryland provides that, unless otherwise negotiated in the contract or provided by local law, the cost of any recordation tax or any State or local transfer tax shall be shared equally between the buyer and seller.”
(b) The statement required under subsection (a) of this section shall be printed in conspicuous type or handwritten in the contract or an addendum to the contract.
Credits
Added by Acts 1989, c. 3, § 1, eff. Oct. 1, 1989. Renumbered from Business Occupations and Professions § 16-523 by Acts 1994, c. 3, § 13, eff. Feb. 28, 1994. Amended by Acts 2005, c. 25, § 1, eff. April 12, 2005.
Formerly Art. 56A, § 4-523.
MD Code, Business Occupations & Professions, § 17-523, MD BUS OCCUP & PROF § 17-523
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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