Legal Question in Real Estate Law in Maryland
Transfer Tax
Do you have to pay a transfer tax fee when you are having your name removed from a deed. The deed is in two parties name. The property is located in Baltimore City. Thanks in advance.
Asked on 8/23/06, 2:55 pm
1 Answer from Attorneys
Robert Sher
Wagshal and Sher
Re: Transfer Tax
If you are getting any benefit from having your name taken off the deed, such as relief from having to pay the mortgage, there may be a tax obligation. You should check with the transfer desk in Baltimore as to what they require in order to avoid having to pay the tax.
Answered on 8/23/06, 3:05 pm
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