Ch. 2

LAWS OF MARYLAND

clauses of the first sentence of former Art. 81, §
153.

The introductory clause of this section, "[e]xcept as
provided in §§ 7-209 through 7-211 of this subtitle",
is added for clarity.

The language "required to be stated in the inventory
required to be filed under § 7-225 of this subtitle"
is substituted for the former language "as shown in
the inventory filed in ... the proper county", for
clarity.

As to the valuation by register when inventory is not
filed as required in § 7-225 of this subtitle, see §
7-231 of this subtitle.

As to provisions for reappraisal or revision of values
in an inventory, see ET §§ 7-203 and 7-204.

Defined terms: "Inheritance tax" § 1-101
"Property that passes from a decedent" § 7-101

7-208. CONCURRENT ABSOLUTE AND LESS THAN ABSOLUTE INTERESTS.

(A)  BY COURT.

(1)  IF THERE IS A FORMAL ADMINISTRATION OF AN ESTATE,
THE COURT WITH JURISDICTION TO ADMINISTER THE ESTATE SHALL
DETERMINE, FOR PURPOSES OF THE INHERITANCE TAX, THE VALUE OF ANY
CONCURRENT ABSOLUTE INTEREST OR LESS THAN ABSOLUTE INTEREST IN
PROPERTY THAT PASSES FROM THE DECEDENT, THAT IS LISTED IN AN
ACCOUNT REQUIRED UNDER § 7-305 OF THE ESTATES AND TRUSTS ARTICLE,
AND THAT IS NOT VALUED IN THE MANNER REQUIRED IN §§ 7-209 THROUGH
7-211 OF THIS SUBTITLE.

(2)  IF THE COURT APPROVES AN ACCOUNT REQUIRED UNDER §
7-305 OF THE ESTATES AND TRUSTS ARTICLE, IN WHICH A CONCURRENT
ABSOLUTE INTEREST OR LESS THAN ABSOLUTE INTEREST IS VALUED:

(I)  APPROVAL OF THE ACCOUNT IS DEEMED TO BE
COURT DETERMINATION OF THE VALUE OF THE CONCURRENT ABSOLUTE OR
LESS THAN ABSOLUTE INTEREST, FOR PURPOSES OF THE INHERITANCE TAX;
AND

(II)  A SEPARATE PETITION TO THE COURT OR A
SEPARATE JUDICIAL ORDER IS NOT NEEDED TO. VALUE THE CONCURRENT
ABSOLUTE INTEREST OR THE LESS THAN ABSOLUTE INTEREST.

(B)  BY REGISTER.

IF THERE IS NO FORMAL ADMINISTRATION OF THE ESTATE, THE
REGISTER IN THE COUNTY WHERE THE INVENTORY IS FILED SHALL
DETERMINE, FOR PURPOSES OF THE INHERITANCE TAX, ANY CONCURRENT
ABSOLUTE INTEREST OR LESS THAN ABSOLUTE INTEREST IN PROPERTY THAT
PASSES FROM A DECEDENT.

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