- The following tenancy types are recognized: Tenancy in Common, Joint Tenancy, Tenancy by the Entirety
- The non-titled spouse to real property is NOT required to sign the Security Instrument
- Acceptable instruments for transferring ownership on real property: Warranty Deed (Land Intake form must be completed for Deed).
- Release or Certificat of Satisfaction
POWER OF ATTORNEY
TAX DUE DATES
- Taxes are due and payable on July 1
- Tax are delinquent on October 1
- Sometimes town taxes may not be included/taxes are payable to a seperate entity in Maryland and Baltimore City
- Mortgage tax does apply - Call county for information - Discounts may apply in certain circumstances. NOTE: Full Mortgage tax is charged if property remains in trust
- Transfer tax differ by county and city / State tax is on half of 1 percent of sale price.
- Montgomery County transfer and recordation tax - county will "recapture" the transfer tax if an exempt deed is recorded between family members and an existing deed of trust is refinanced within a few months thereafter. *To avoid "recapture" of transfer tax, the gap between deed and refinance deed of trust must be at least 4 months
SECURITY INSTRUMENT RECORDING REQUIREMENTS
- Attorney certificate of preparation required for recording
- Refinance affidavit must be included with Security Instrument (Prince George's County has their own special affidavit with seal)
- The name and address of the person preparing the instrument must be included
- All original signatures must have names typed or printed under signature line
- Property Tax ID number must be included on all instruments in Montgomery County
- Notaries stamp or seal must be on all instruments submitted for recording
- Return to name and address is required on the last page of all documents
- Land Intake affidavit required on all Security Instruments filed
WHO MAY SERVE AS TRUSTEE ON DEED OF TRUST
- Individual; Corporate Fiduciary; Title Company
STATUTE OF LIMITATIONS
- JUDGMENTS IN FAVOR OF U.S. - 20 Years
- ALL OTHER JUDGMENTS - 12 Years, Renewable
- STATE OF MARYLAND TAX LIENS - no exp.
- FEDERAL TAX LIENS - Must file petition to establish lien. Right to enforce lien expires one year after filing of petition.
- FINANCING STATEMENT - 5 Years
- HOMEOWNERS ASSOCIATION - HOA must foreclose within 3 yrs of notice of lien
- MORTGAGES - 20 Years after maturity date if shown, 40 years past date if no maturity date shown
- NOTICE OF COMMENCEMENT - N/A
- PERSONAL PROPERTY TAXES - No exp.
- WORKERS COMPENSATION TAX LIENS - No exp.
- LIS PENDENS - Lis Pendens not filed in land records, the filing of a petition with the court to enforce a lien acts as a Lis Pendens
- STATE INHERITENCE TAX - No Limitation
- OTHER - Creditor's claim against the estate of decedent must be filed within 6 months after death or 2 months after filing notice by Personal Representative
Q. Can judgment lien be avoided; if so, how? Are there exceptions to the avoidance? Does the method of holding title affect the answer? A. A judgment in Maryland is a lien against the real property of the judgment debtor for a period of 12 years from docketing with the Circuit Court in the county where the property lies or the District Court if the property lies in Baltimore City. The judgment may be renewed and extended for successive 12 year periods. The lien attaches any property owned or subsequently acquired by the judgment debtor.
There is no protection from the attachment of the lien such as homestead.
Judgments (except Federal Tax Liens) against only one spouse do not attach to property held by a husband and wife as tenants by the entirety.
Judgments against one joint tenant attach only if the judgment creditor executes against the property in question, which servers the joint tenancy.
Judgments against seller(s) must be cleared, unless the tenancy provides protection from attachment of the judgment as noted above. Existing judgments against purchasers are subordinate to the lien of a purchase money mortgage and should be shown under schedule B-11 of the lender's policy (subordinate matters).An exception to the priority of a purchase money mortgage is a judgment against the borrower in favor of the USA or one of it's agencies.
(See CTIC Bulletin No. 293 dated 12/6/91).
Judgments against the borrowers must be cleared, unless the tenancy provides protection from attachment as noted above.