Under Maryland law, which government body administers and collects the county recordation tax when a deed is recorded?
Correct Answer
C) The clerk of the circuit court in the county where the property is located
Under Md. Code Ann., Tax-Prop. § 12-104, the county recordation tax is collected by the clerk of the circuit court in the county where the property is located at the time the deed is presented for recording. This is the standard procedure throughout Maryland's 23 counties and Baltimore City.
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Related Concepts
Foreclosure is the legal process by which a lender takes possession of a property when a borrower fails to make mortgage payments. It allows the lender to sell the property to recover the outstanding debt.
The loan-to-value ratio (LTV) is the percentage of a property's appraised value or purchase price (whichever is lower) that is being financed through a mortgage. LTV = Loan Amount / Property Value.
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