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§ 5-601. Estates qualified as small estates

West's Annotated Code of MarylandEstates and TrustsEffective: October 1, 2012

West's Annotated Code of Maryland
Estates and Trusts (Refs & Annos)
Title 5. Opening the Estate (Refs & Annos)
Subtitle 6. Small Estates (Refs & Annos)
Effective: October 1, 2012
MD Code, Estates and Trusts, § 5-601
§ 5-601. Estates qualified as small estates
Property value of $50,000 or less as of date of death of decedent
(a) If the property of the decedent subject to administration in Maryland is established to have a value of $50,000 or less as of the date of the death of the decedent, the estate may be administered in accordance with the provisions of §§ 5-602 through 5-607 of this subtitle.
Property value of $50,000 or less before filing initial account in administration proceedings
(b) If, before the filing of an initial account in administration proceedings instituted under Subtitle 3 or Subtitle 4 of this title, the property of the decedent subject to administration in Maryland is established to have a value of $50,000 or less as of the date of the death of the decedent, the estate thereafter may be administered in accordance with the provisions of §§ 5-602 through 5-607 of this subtitle.
Surviving spouse as sole legatee and property value of $100,000 or less
(c) If the surviving spouse is the sole legatee or heir of the decedent and if before the filing of an initial account in administration proceedings instituted under Subtitle 3 or Subtitle 4 of this title, the property of the decedent subject to administration in Maryland is established to have a value of $100,000 or less as of the date of the death of the decedent, the estate thereafter may be administered in accordance with the provisions of §§ 5-602 through 5-607 of this subtitle.
Value determinations
(d) For the purpose of this subtitle, value is determined by the fair market value of property less debts of record secured by the property, as of the date of death, to the extent that insurance benefits are not payable to the lien holder or secured party for the secured debt.

Credits

Added by Acts 1974, c. 11, § 2, eff. July 1, 1974. Amended by Acts 1974 c. 649, § 1; Acts 1978, c. 863; Acts 1982, c. 778; Acts 1982, c. 779; Acts 1983, c. 222; Acts 1987, c. 614; Acts 1988, c. 2, § 6; Acts 1997, c. 693, § 1, eff. Jan. 1, 1998; Acts 2000, c. 118, § 1, eff. July 1, 2000; Acts 2012, c. 62, § 1, eff. Oct. 1, 2012; Acts 2012, c. 63, § 1, eff. Oct. 1, 2012.
Formerly Art. 93, § 5-601.

Editors' Notes

HISTORICAL AND STATUTORY NOTES
2000 Legislation
Acts 2000, c. 118, in subsecs. (a) and (b), substituted “$30,000” for “$20,000”; inserted subsec. (c); and redesignated former subsec. (c) as subsec. (d).
Acts 2000, c. 118, § 2, provides:
“SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect July 1, 2000 and shall be applicable to all decedents who die on or after July 1, 2000.”
2012 Legislation
Acts 2012, c. 62, § 1, and Acts 2012, c. 63, § 1, in subsecs. (a) and (b), substituted “$50,000” for “$30,000”; and in subsec. (c) substituted “$100,000” for “$50,000”.
Acts 2012, c. 62, § 2, and Acts 2012, c. 63, § 2, provide:
“SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall be construed to apply only prospectively and may not be applied or interpreted to have any effect on or application to any estate opened before the effective date of this Act.”
MD Code, Estates and Trusts, § 5-601, MD EST & TRST § 5-601
Current through all legislation from the 2017 Regular Session of the General Assembly
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