S.B. 508

VETOES

PROPERTY AS OF THE DATE OF DEATH, TO THE EXTENT THAT INSURANCE BENEFITS
ARE NOT PAYABLE TO THE LIEN HOLDER OR SECURED PARTY FOR THE SECURED
DEBT."

I SOLEMNLY AFFIRM UNDER THE PENALTIES OF PERJURY THAT THE
CONTENTS OF THE FOREGOING INFORMATION SCHEDULE ARE TRUE TO THE BEST
OF MY KNOWLEDGE, INFORMATION, AND BELIEF.

ATTORNEY'S SIGNATURE                            PETITIONER               DATE

ADDRESS                                   PETITIONER               DATE

TELEPHONE NUMBER                          TELEPHONE NUMBER

5-601.

(a)     If the property of the decedent subject to administration in Maryland is
established to have a [gross] value of $20,000 or less as of the date of the death of the
decedent, the estate may be administered in accordance with the provisions of §§ 5-602
through 5-607 OF THIS SUBTITLE.

(b)     If, before the filing of an initial account in administration proceedings
instituted under Subtitle 3 or Subtitle 4 of this title, the property of the decedent subject
to administration in Maryland is established to have a [gross] value of $20,000 or less as
of the date of the death of the decedent, the estate thereafter may be administered in
accordance with the provisions of §§ 5-602 through 5-607 OF THIS SUBTITLE.

(C) FOR THE PURPOSE OF THIS SUBTITLE, VALUE IS DETERMINED BY THE
FAIR MARKET VALUE OF PROPERTY LESS DEBTS OF RECORD SECURED BY THE
PROPERTY, AS OF THE DATE OF DEATH, TO THE EXTENT THAT INSURANCE
BENEFITS ARE NOT PAYABLE TO THE LIEN HOLDER OR SECURED PARTY FOR THE
SECURED DEBT.

[5-608.

(a) (1) If the only property of an estate of a decedent is not more than two
motor vehicles, the Motor Vehicle Administration may transfer the title to the motor
vehicles to the person entitled to them if he is satisfied that all debts and taxes owed by
the decedent have been paid. Administration of the estate of the decedent is not
necessary in this case.

(2) If the interest of an owner in a vehicle for which a certificate of title has
been issued passes to a legatee or distributee as a result of testamentary disposition or
intestate devolution, no application for a new certificate of title need be made until the
expiration of the current annual registration in the name of the deceased owner, and the
certificate of title need not be submitted to the department until the application for a new
certificate of title is made. A certificate of letters testamentary or of administration issued
by a court of competent jurisdiction is sufficient authority for the Motor Vehicle
Administration to transfer the title of the vehicle of a deceased owner if title is properly
assigned by the personal representative of the deceased owner.

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