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Maryland Baltimore Transfer/Recordation Tax-Quit Claim Deed

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gangxiaowu Joined: 04 Feb 2011 Posts: 2 1.43 Dollars($)	Posted: Fri Feb 04, 2011 6:06 pm    Post subject: Maryland Baltimore Transfer/Recordation Tax-Quit Claim Deed Like 0 Dislike 0 Hi anyone know if I still have to pay the Maryland State and Baltimore County recordation and transfer tax if my parents quit claim deed their house to me? Thank you!!
Niicss Joined: 03 Oct 2005 Posts: 4831 Location: New Jersey 508.39 Dollars($)	Posted: Mon Feb 07, 2011 2:21 am    Post subject: Like 0 Dislike 0 Once your parents sign a quitclaim deed and transfer the property to you, you will be liable for paying transfer tax and the deed recording fees. _________________ Good is the Enemy of Great.
Guest	Posted: Mon Feb 07, 2011 11:09 am    Post subject: Like 0 Dislike 0 Thanks for the reply Niicss? But base on what amount? Maryland state + county transfer tax is 2.0% and recordation is 5$ per 1000. Do they go by the county tax assessment value? The principle amount? The remain mortgage amount? Thanks!
smithsussane Joined: 18 Sep 2008 Posts: 10423 Location: Alaska 983.47 Dollars($)	Posted: Tue Feb 08, 2011 12:50 am    Post subject: Like 0 Dislike 0 Hi Guest! Welcome to forums! As far as I know, the amount will depend upon the present value of the property. Sussane

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