Maryland Code, ESTATES AND TRUSTS 9-105
Terms Used In Maryland Code, ESTATES AND TRUSTS 9-105
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Decedent: A deceased person.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Grantor: The person who establishes a trust and places property into it.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Personal representative: includes an administrator and an executor. See
- state: means :
(1) a state, possession, territory, or commonwealth of the United States; or
(2) the District of Columbia. See
(b) Costs payable as a condition of the recordation of a deed shall be paid by the estate.
(c) (1) In this subsection, “consideration” does not include the amount of any obligation under a mortgage or deed of trust encumbering the transferred property.
(2) A recordation tax, transfer tax, or any other State or local excise tax may not be imposed on the transfer by a personal representative of property or an interest in property without consideration or on the recordation of an instrument executed by a personal representative that transfers property or an interest in property without consideration.
(d) In addition to other indexing, any such deed recorded among the land records shall be indexed in the grantor index under the name of the decedent.