Martin O'Malley, Governor

Ch. 3

(II)     A PARTNERSHIP, ALL OF THE INTERESTS IN WHICH ARE
OWNED, DIRECTLY OR INDIRECTLY, BY ONE OR MORE SUBSIDIARIES OR THE
COMMON PARENT CORPORATION; OR

(III)    THE COMMON PARENT CORPORATION.

(5) THE RECORDATION TAX IS NOT IMPOSED ON THE TRANSFER
OF A CONTROLLING INTEREST IN A REAL PROPERTY ENTITY IF THE
TRANSFEREE OF THE CONTROLLING INTEREST IN THE REAL PROPERTY ENTITY
IS:

(i) a nonstock corporation organized under title
5, subtitle 2 of the corporations and associations article; and

(ii) registered with the department of aging as a
continuing care retirement community under article 70b, § 9 of the
Code.

(6) the recordation tax is not imposed on the transfer
of a controlling interest if the transfer, for federal income tax
purposes. does not involve the recognition of gain or loss,
including the nonrecognition of gain or loss because of the
application of §332, § 337, § 351, § 368(A)(1), § 731, OR § 1031 OF THE
internal revenue code.

(6)(7)(6) the real property entity has the burden of
establishing to the satisfaction of the department the
applicability of any exemption referred to in paragraphs (1)
through (5)(6)(5) of this subsection.

(d) (1) The real property entity shall file with the
Department a report of any transfer of a controlling interest in
the real property entity that is completed within a period of 12
months or less within 30 days following the date of the final
transfer.

(2) the report shall include all information to
establish to the satisfaction of the department:

(i) the consideration referred to in subsection
(b)(2)(i) of this section;

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