|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ch. 524 2002 LAWS OF MARYLAND
|
|
|
|
|
|
|
|
|
(6) applications received; and
(7) pilot continuing education credits.
SECTION 5. AND BE IT FURTHER ENACTED, That this Act shall take
effect July 1, 2002.
Approved May 16, 2002.
|
|
|
|
|
|
|
|
|
|
CHAPTER 524
(House Bill 512)
AN ACT concerning
Recordation Tax - Refinancing Instrument
FOR the purpose of altering a certain exemption under the recordation tax for certain
instruments of writing securing the refinancing by the original mortgagor of
real property that is used as the principal residence by the original mortgagor to
provide that a certain affidavit required to qualify for the exemption may be
filed by an agent of the original mortgagor; and generally relating to a certain
exemption under the recordation tax for certain instruments of writing securing
the refinancing by the original mortgagor of real property that is used as the
principal residence by the original mortgagor.
BY repealing and reenacting, with amendments,
Article - Tax - Property
Section 12-108(g)
Annotated Code of Maryland
(2001 Replacement Volume and 2001 Supplement)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:
Article - Tax - Property
12-108.
(g) (1) In this subsection, "original mortgagor" includes an individual who
assumed a debt secured by real property that the individual purchased as a principal
residence and who paid the recordation tax on the consideration paid for the property.
(2) A mortgage or deed of trust is not subject to recordation tax to the.
extent that it secures the refinancing of an amount not greater than the unpaid
principal amount secured by an existing mortgage or deed of trust at the time of
refinancing by the original mortgagor of real property that is used as a principal
residence by the original mortgagor.
|
|
|
|
|
|
|
|
|
|
- 3982 -
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
