HARRY HUGHES, Governor                                       433

or articles of transfer".

As to "assets" and "transfer assets" see CA § l-101(d)
and (v), respectively.

(C)  INSTRUMENT OF WRITING.

(1)  "INSTRUMENT OF WRITING" MEANS A WRITTEN
INSTRUMENT THAT:

(I)  CONVEYS TITLE TO OR CREATES OR GIVES NOTICE
OF A SECURITY INTEREST IN REAL PROPERTY; OR

(II)  CREATES OR GIVES NOTICE OF A SECURITY
INTEREST IN PERSONAL PROPERTY.

(2)  "INSTRUMENT OF WRITING" INCLUDES:

(I)  A DEED OR CONTRACT;

(II)  A MORTGAGE, DEED OF TRUST, OR OTHER
CONTRACT THAT CREATES AN ENCUMBRANCE ON REAL PROPERTY;

(III)  A LEASE OF REAL PROPERTY;

(IV)  AN ASSIGNMENT OF A LESSEE'S INTEREST IN
REAL PROPERTY;

(V)  ARTICLES OF TRANSFER; AND

(VI)  A SECURITY AGREEMENT.

REVISOR'S NOTE: This subsection is new language substituted
for former Art. 81, § 277(a)(2)(i) and for the
reference in § 277(a)(1) to instruments of writing
conveying title or creating liens. The revision
clarifies that an instrument of writing may give
notice or create a security interest. The language
also specifically incorporates as instruments of
writing "articles of transfer" and the defined term
"security agreement". The incorporation of "security
agreement" avoids the confusion created by the former
reference to the types of a "secured transaction
which, prior to enactment hereof, were subject to this
tax", by enumerating the instruments of writing that
based on current practice are subject to this title.
The General Assembly may wish to consider this
substitution.

Defined terms: "Articles of transfer" § 12-101
"Includes"; "including" § 1-101 "Real property" § 1-101
"Security agreement" § 1-101 "Security interest" § 1-101

(D)  RECORDATION TAX.