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Caroline County, MD
 
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Table of Contents
Table of Contents
Code
New Laws (29) Index
[Adopted 6-11-1991 as Bill No. 91-2]
A recordation tax for Caroline County, Maryland, is hereby established.
In this Article, the following words have the meaning indicated:
INSTRUMENT OF WRITING
A. 
A written instrument that:
(1) 
Conveys title to or creates or gives notice of a security interest in real property; or
(2) 
Creates or gives notice of security interest in personal property.
B. 
Includes:
(1) 
A deed or contract.
(2) 
A mortgage, deed of trust, or other contract that creates an encumbrance on real property.
(3) 
A lease of real property.
(4) 
An assignment of a lessee's interest in real property.
(5) 
A security agreement.
RECORDATION TAX
The tax imposed under this Article.
AGREEMENT
An agreement that creates or provides for a security interest; includes financing statement filed under the Maryland Uniform Commercial Code to perfect a security interest.
INTEREST
An interest in real property or personal property that secures payment or performance of obligation; includes a lien or encumbrance on real property or personal property.
SUPPLEMENTAL INSTRUMENT OF WRITING
An instrument of writing that confirms, corrects, modifies or supplements a previously recorded instrument of writing; includes an instrument of writing that secures a debt and grants a security interest in property in addition to or in substitution for property described in the previously recorded instrument of writing.
[Amended 1-12-2010 by Bill No. 2009-8]
A recordation tax shall be imposed, determined, and collected on an instrument of writing by the Collector of Taxes before any such instrument of writing may be recorded with the Clerk of the Circuit Court for Caroline County.
[Amended 6-10-2003 by Bill No. 2003-5]
For an instrument of writing dated August 1, 2003, and thereafter, the recordation tax rate shall be $5 for each $500 or a fraction of $500 of consideration payable on the principal amount the debt secured by an instrument of writing. The consideration includes the amount of any mortgage or deed of trust assumed by the grantee.
The consideration payable, including the amount of an mortgage or deed of trust assumed by the grantee, or the principal amount of the secured debt incurred, shall be described in:
A. 
The recitals or the acknowledgment of the instrument in writing; or
B. 
An affidavit, under oath, that accompanies the instrument of writing and that is signed by a party to the instrument of writing or by an agent of a party.
The calculation of the recordation tax, when applicable, shall be determined in the same manner as provided by the Tax-Property Article of the Annotated Code of Maryland.
An instrument of writing is not subject to recordation tax if it meets any of the exceptions set forth in § 12-108, Exemptions From Tax, of the Tax-Property Article, Annotated Code of Maryland.