HARRY HUGHES, Governor

2871

due a municipal corporation, and charges due on the property have
been paid as required by law, and (2) all taxes on personal
property in the county due by the transferor have been paid when
all land owned by him in the county and municipal corporation is
being transferred. The certificate of the collecting agent and
municipal corporation designated by law showing that all taxes,
assessments, and charges have been paid, shall be endorsed on the
deed and the endorsement shall be sufficient authority for
transfer on the assessment books.

(c) (1) The requirements for prepayment of personal
property taxes in subsection (b) do not apply to grants of land
made by or on behalf of any of the following: any mortgagee, lien
creditor, trustee of a deed of trust, judgment creditor, trustee
in bankruptcy or receiver, and any other court-appointed officer
in an insolvency or liquidation proceeding.

(2)  Subsection (b) does not apply in Charles, St.
Mary's, Dorchester, Kent, Prince George's, Worcester, Carroll,
Montgomery, Frederick and Washington counties to any deed
executed as a mere conduit or for convenience in holding and
passing title, known popularly as a straw deed or, as provided in
§ 4-108, a deed making a direct grant in lieu of a straw deed, or
to a deed which is a supplementary instrument merely confirming,
correcting, or modifying a previously recorded deed, if there is
no actual consideration paid or to be paid for the execution of
the supplementary instrument.

(3)  Subsection (b) does not apply in Anne Arundel,
Baltimore, or Frederick counties to any deed transferring
property to the county when the controller or treasurer of the
county has certified that the conveyance does not impair the
security for any public taxes, assessments, and charges due on
the remaining property of the grantor.

(4)  (i) [In St. Mary's County, property] PROPERTY may
be transferred on the assessment books or records in July,
August, or September if instead of paying the taxes required
under subsection (b)(1) of this section on a property transfer by
assumption, a lender OR THE ATTORNEY HANDLING THE TRANSFER OF
TITLE files with the County Treasurer, TAX COLLECTOR, OR DIRECTOR
OF FINANCE OF THE COUNTY IN WHICH THE PROPERTY IS ASSESSED a
statement that certifies that the lender [will pay the tax due on
the property to the County Treasurer by September 30 of the same
tax year] MAINTAINS A REAL ESTATE TAX ESCROW ACCOUNT.

(ii) Upon receipt of the statement required in
subparagraph (i) of this paragraph [(4)], the County Treasurer,
TAX COLLECTOR, OR DIRECTOR OF FINANCE shall endorse on the deed
an appropriate certification and the endorsement shall be
sufficient authority for transfer on the assessment books.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect July 1, 1986.