HARRY HUGHES, Governor

427

PROPERTY UNDER § 8-417 OF THIS ARTICLE, IF THE TRANSFEROR OR THE
TRANSFEREE FILES WITH THE DEPARTMENT OR THE SUPERVISOR WITHIN 20
DAYS AFTER THE DATE OF THE TRANSFER A REPORT, UNDER OATH, THAT
CONTAINS:

(I)  A DESCRIPTION OF THE PERSONAL PROPERTY FROM
THE ASSESSMENT ROLL;

(II)  THE DATE AND MANNER OF TRANSFER;

(III)  THE NAME AND ADDRESS OF THE TRANSFEREE;

(IV)  THE CONSIDERATION; AND

(V)  ANY OTHER INFORMATION THAT THE DEPARTMENT
REQUIRES.

(2)  IF THE REPORT IS NOT FILED, THE TRANSFEROR AND
THE TRANSFEREE ARE JOINTLY AND SEVERALLY LIABLE.

(3)  THIS SUBSECTION DOES NOT APPLY TO ANY PERSONAL
PROPERTY OR STOCK IN BUSINESS REMOVED FROM THE STATE BEFORE THE
SEMIANNUAL DATE OF FINALITY.

(4)  IF THE TRANSFEROR OF PERSONAL PROPERTY THAT IS
TRANSFERRED UNDER THIS SECTION HAS PAID THE PROPERTY TAX, THE
TRANSFEROR MAY REQUIRE THE TRANSFEREE TO ADJUST THE PROPERTY TAX
WITH THE TRANSFEROR.

REVISOR'S NOTE: This section is new language substituted
for former Art. 81, § 4A(a) through (c), except the
ownership payment responsibility provision of the
first sentence of (a). This section is revised to
clearly differentiate between the payment
responsibility for real property and personal
property.

Former Art. 81, § 4A(d), which contained definitions
for the section, is deleted as superfluous in light of
the defined terms "property" and "real property" in §
1-101 of this article. As to persons deemed to be
responsible for paying tax, see Title 1, Subtitle 2 of
this article.

Defined terms: "Assess" , § 1-101

"Assessment roll" § 1-101 "Date of finality" § 1-101

"Department" § 1-101 "Property" § 1-101

"Property tax" § 1-101 "Real property" § 1-101

"Semiannual date of finality" § 1-101

"Supervisor" § 1-101 "Taxable year" § 1-101

10-403. LIABILITY FOR LEASED PROPERTY.

(A)

IN GENERAL.