Ch. 671                                       LAWS OF MARYLAND

to the [annual ground rent capitalized at the rate] REDEMPTION
SUM as determined under § 8-110 of the Real Property Article plus
any additional consideration payable. If the lease is recorded
at the same time with the transfer of the reversionary estate
created for full consideration, the lease is not subject to
recordation tax.

13-205.

(a) If a lease of real property creating a perpetually
renewable ground rent is recorded without a transfer of the
reversionary estate for full consideration other than the ground
rent being recorded at the same time, the transfer tax applies to
the [annual ground rent capitalized at the rate] REDEMPTION SUM
as determined under § 8-110 of the Real Property Article plus any
additional consideration payable. If the lease is recorded at
the same time with the transfer of the reversionary estate
created for full consideration, the lease is not subject to
transfer tax.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect July 1, 1989.

Approved May 25, 1989.

CHAPTER 671

(House Bill 528)

AN ACT concerning

Estates - Limits on Judgments

FOR the purpose of providing that, in a verdict against an estate
of a decedent who was covered by a liability insurance
policy, the amount of the judgment that is collectible
recoverable and not the amount of the judgment, is limited
to a certain amount; providing for the construction and
application of this Act; and generally relating to verdicts
against certain estates.

BY repealing and reenacting, with amendments,

Article - Estates and Trusts
Section 8-104(e)
Annotated Code of Maryland
(1974 Volume and 1988 Supplement)

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