HARRY HUGHES, Governor 1653
(2) IN A TRANSFER BETWEEN JOINT OBLIGOR SPOUSES
OR FORMER SPOUSES OF PROPERTY SUBJECT TO A MORTGAGE, THE
AMOUNT OF CONSIDERATION DOES NOT INCLUDE THE VALUE OF THE
OUTSTANDING MORTGAGE EXPRESSLY OR IMPLIEDLY ASSUMED BY THE
GRANTEE. IF THE CONSIDERATION FOR A TRANSFER OF PROPERTY
PURSUANT TO A SEPARATION AGREEMENT BETWEEN SPOUSES OR FORMER
SPOUSES CONSISTS OF A BENEFIT OTHER THAN MONEY OR EVIDENCE
OF INDEBTEDNESS, THE TAX DOES NOT APPLY TO THE TRANSFER.
(2) WHEN ANY PROPERTY SUBJECT TO A MORTGAGE OR
DEED OF TRUST IS TRANSFERRED TO A SPOUSE, FORMER SPOUSE,
SON, DAUGHTER, OR PARENT OF THE TRANSFEROR, THE TAX IS NOT
APPLICABLE TO THE AMOUNT OF ANY OUTSTANDING MORTGAGE, DEBT
ASSUMED BY THE TRANSFEREE. WHEN SPOUSES OR FORMER SPOUSES
TRANSFER PROPERTY TO EACH OTHER SUBJECT TO A SEPARATION
AGREEMENT, THE TAX IS APPLICABLE ONLY TO THE EXTENT THAT
VALUE IS RECEIVED OR BENEFIT TRANSFERRED OTHER THAN MONEY OR
EVIDENCE OF INDEBTEDNESS.
(3) A statement of the amount of the actual
consideration paid or to be paid, if any, including the
amount of any mortgage, or deed of trust assumed by the
grantee, shall either be included in every taxable
instrument offered for record as part of its recitals or as
part of the acknowledgement, or be contained in a separate
affidavit accompanying the instrument, signed under the
penalties of perjury by a party to the instrument or the
agent of [such] THE party.
SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1979.
Approved May 29, 1979.
CHAPTER 586
(House Bill 813)
AN ACT concerning
Howard County — Contests
FOR the purpose of repealing the prohibition against certain
merchants from using certain games or contests.
BY repealing and reenacting, with amendments,
Article 27 — Crimes and Punishments
Section 369A (b)
Annotated Code of Maryland
(1976 Replacement Volume and 1978 Supplement)
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