December 1, 2011
By: Cindi E. Cohen
In the spring, we advised you that the various counties in Maryland were no longer requiring payment of indemnity deed of trust (“IDOT”) recordation tax as a condition to recording the trustee’s deed following a foreclosure of an IDOT. This information was based on several of the counties' (including Montgomery County) reversal of their prior positions and accepting trustee’s deeds for recordation without payment of the IDOT recordation tax. However, not all of the counties are following this practice. Howard County is still requiring payment of the IDOT recordation tax before it will accept a trustee’s deed for recordation. This practice currently is being challenged but the dispute has not yet been resolved.
Cindi Cohen is an attorney at Lerch, Early & Brewer in Bethesda, Maryland whose practice is focused in the fields of real estate transactions, including leasing and acquisitions and dispositions, general business transactions, financing, foreclosures and general lender representation. For more information about recording real estate transactions, contact Cindi at cecohen@lerchearly.com or (301) 657-0169.
