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PARRIS N. GLENDENING, Governor
Ch. 123
(4) TO QUALIFY AS A FIRST TIME MARYLAND HOME BUYER FOR THE
EXEMPTION UNDER PARAGRAPH (3) OF THIS SUBSECTION, EACH GRANTEE SHALL
PROVIDE A STATEMENT THAT IS SIGNED UNDER OATH BY THE GRANTEE STATING
THAT:
(I) 1. THE GRANTEE IS A FIRST-TIME MARYLAND HOME BUYER
AS DEFINED UNDER THIS SUBSECTION; AND
(II) 2. THE RESIDENCE WILL BE OCCUPIED BY THE GRANTEE AS
THE GRANTEE'S PRINCIPAL RESIDENCE; OR
(II) 1. THE GRANTEE IS A CO-MAKER OR GUARANTOR OF A
PURCHASE MONEY MORTGAGE OR PURCHASE MONEY DEED OF TRUST AS DEFINED IN §
12-108(I) OF THIS TITLE ARTICLE FOR THE PROPERTY; AND
2. THE GRANTEE WILL NOT OCCUPY THE RESIDENCE AS THE
CO-MAKER'S OR GUARANTOR'S PRINCIPAL RESIDENCE.
13-409.
ANY COUNTY HAVING A COUNTY TRANSFER TAX MAY PROVIDE FOR AN EXEMPTION
FROM THE TAX FOR AN INSTRUMENT OF WRITING FOR RESIDENTIALLY IMPROVED
OWNER-OCCUPIED REAL PROPERTY IF THE INSTRUMENT OF WRITING IS ACCOMPANIED
BY A STATEMENT UNDER OATH SIGNED BY EACH GRANTEE THAT.
(1) (I) THE GRANTEE IS AN INDIVIDUAL WHO HAS NEVER OWNED IN THE
STATE RESIDENTIAL REAL PROPERTY THAT HAS BEEN THE INDIVIDUAL'S PRINCIPAL
RESIDENCE; AND
(II) THE RESIDENCE WILL BE OCCUPIED BY THE GRANTEE AS THE
GRANTEE'S PRINCIPAL RESIDENCE; OR
(2) (I) THE GRANTEE IS A CO-MAKER OR GUARANTOR OF A PURCHASE
MONEY MORTGAGE OR PURCHASE MONEY DEED OF TRUST AS DEFINED IN § 12-108(I) OF
THIS ARTICLE FOR THE PROPERTY; AND
(II) THE GRANTEE WILL NOT OCCUPY THE RESIDENCE AS THE
CO-MAKER'S OR GUARANTOR'S PRINCIPAL RESIDENCE.
Article - Real Property
7-112.
(A) IN CONNECTION WITH THE SETTLEMENT OF THE PURCHASE OF
OWNER OCCUPIED RESIDENTIAL REAL PROPERTY, A LENDER MAY NOT REQUIRE
THE BORROWER OR PROSPECTIVE BORROWER TO DEPOSIT IN ANY ESCROW
ACCOUNT THAT MAY BE ESTABLISHED FOR THE PURPOSE OF ENSURING PAYMENT
OF TAXES, INSURANCE PREMIUMS, OR OTHER CHARGES WITH RESPECT TO THE
PROPERTY, AN AGGREGATE SUM IN EXCESS OF THE SUM OF:
(1) AN AMOUNT THAT WILL BE SUFFICIENT TO PAY THOSE TAXES,
INSURANCE PREMIUMS, AND OTHER CHARGES ATTRIBUTABLE TO THE PERIOD
THAT;
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