B A S I C R E Q U I R E M E N T S : F O R M R E Q U I R E M E N T S : PAPER:

Transcription

1 M o r t g a g e T a x M A R Y L A N D B A S I C R E Q U I R E M E N T S : F O R M R E Q U I R E M E N T S : PAPER: NON-STANDARD FEE: MARGINS: PRINT: PREPARER INFO: 8½ by 11 accepted 8½ by 14 (maximum accepted) Not accepted First page 2 top; 1 other sides All other margins 1" Black ink 8 point font minimum Document must be legible Signed Certificate of Preparation See below for specifications for Washington County Per MD State Counsel, FA employees can NOT sign Certificate of Preparation. See table below for county specific requirements. XL/FACT must be signed by Steve or Ro. (don t reject them, walk over to have them signed). TRUSTEE: Who may act as Trustee? Joinder/Dower/ Homestead: APN/PID NUMBER: WITNESSES: PRINTED NAMES: NOTARY Must individual persons named as trustees be residents? No Marital Status not required Non-Joinder state: Non-titled spouse does not need to sign documents Must appear on all documents None required Required below all signatures Date of Acknowledgment Expiration of Notary Stamp or Seal is required Maryland s Notary seal must contain the county of commission. Printed name required under signature. DEED OF TRUST PRINCE GEORGES- REQUIRES A COPY OF THE DOT BEING REFINANCED INDEMNITY DEED OF TRUST DEEDS: I SEE ADDITIONAL INFORMATION IN DEED SECTION BELOW AND IN STATE SECTION REGARDING PURCHASE MONEY CONVEYANCE DEEDS REFINANCE AFFIDAVIT LOST AFFIDAVIT MODIFICATION AGREEMENTS DEATH CERTIFICATE Land Intake Sheet must be 81/2 x 14 (3 copies carbon or reproduced); Prince George County requires 4 copies See below for special instructions regarding Montgomery County Refinance Affidavit (include Unpaid Principal Balance, Book/Page, Date) Promissory note must be attached Land Intake Sheets Must state the relationship between the Grantor & Grantee Affidavit of Total Payment Counted as pages (only needed if not stated on deed) Certificate of Exemption Counted as pages (only needed if not stated on deed Payoff Amount Original Loan, Book & Page No corrections can be made to Prince George s affidavits However, all corrections from other counties are required to be initialed by the homeowner Prince George s, Howard & Fredrick have their own forms. Not accepted Baltimore County will accept a copy of the Deed of Trust with original borrower signatures Must list the original and new loan amounts Death Certificates are not recordable in Maryland with the exceptions of Carroll, Dorchester, Garrett, Prince Georges, and Washington; see county specifics below for details regarding these counties. Worcester County: Death Certificates should not be recorded due to the personal information that is included on the Death Certificate. The wording Deceased with the Date of Death should appear next to the person s name on the Deed.

2 POWER OF ATTORNEY Original or recorded copy Only Need preparer information and parcel no. Calvert, Carroll, Cecil, Howard, Kent, Montgomery, Queen Anne s, Saint Mary s, Somerset, and Talbot require that the document must state clearly that this is solely for a principal residence for real estate. See below for special instructions regarding Montgomery County Return To Label Requirements Legal Requirements NONE However, Kent and Wicomico County require the return to label on the first page of the document or it will be rejected. Must accompany all instruments Prince Georges: Standard legal required Montgomery: All Deeds of Trust require Lot, Block, and Subdivision COMMON REJECTION REASONS: CERTIFICATE OF PREPARATION (PREPARED BY) STATEMENT MISSING REFINANCE AFFIDAVITS MISSING OR INCOMPLETE CORRECT PRINCE GEORGE FINANCE AFFIDAVIT MISSING/NOT SIGNED INTAKE SHEETS MISSING/INCOMPLETE TRUSTEE MISSING/INCOMPLETE TAX LIEN CERTIFICATE NOT ATTACHED TO DEED S T A T E S P E C I F I C S : Certificate of Preparation: Cannot be signed on behalf of the lender for Allegheny, Howard or Harford counties. (Harford County: If not signed, we may print the preparer s name on the signature line). No Social Security Numbers are permitted on documents to be recorded with the Clerk of Circuit Court. If a 1-4 Family Rider is attached to a document, then the property involved is NOT considered a principal residence. SATISFACTIONS AND ASSIGNMENTS: The state will record notes that have been stamped PAID ; however, the note must reference the recorded mortgage and must be signed by the lender. Refinances signed by Power of Attorney: For any document signed by a Power of Attorney, the Refinance Affidavit must include this verbiage (i or ii) typed prior to the signature: A statement under paragraph of this subsection by an agent of the original mortgagor shall state that the statement (i) is based on a diligent inquiry made by the agent with respect to the facts set forth in the statement and (ii) is true to the best of the knowledge, information, and belief of the agent. Purchase Money Conveyance Deeds: When a purchase money conveyance deed is being filed concurrently with a deed of trust, a question asking for the consideration on the purchase deed will appear; the question should only be answered if the loan type that is selected is a purchase ; it should be left as zero for a re-finance. Recordation tax will be calculated on the difference between the loan amount of the deed of trust and the deed consideration that is entered. If the deed consideration that is entered exceeds the loan amount of the deed of trust, then $0 tax will be due. COUNTY SPECIFICS: Land intake sheets required for conveyance deeds only in: Alleghany, Cecil, Garrett, Howard, Kent, Queen Anne s, St. Mary s, Talbot, Wicomico and Worcester. Baltimore County/City: Requires book/page of previous deed of trust being refinanced.

3 Also, intake sheets are not required for releases in Baltimore County. Carroll and Garrett County: A Death Certificate can be recorded as an attachment to another document. The Social Security number must be removed. Dorchester County: A Death Certificate can be recorded as an attachment to another document. All confidential information must be removed from the Death Certificate. Howard County: Requires a county specific refinance affidavit to be completed. Frederick County: Requires a specific refinance affidavit to be completed. All corrections on the Refinance Affidavit are REQUIRED to be initialed by the Homeowner. Montgomery County: Refinance verbiage must be typed on the first page of the mortgage. If it is not, a signed Refinance affidavit is needed As of October 1, 2010, two witness signatures are required on a Power of Attorney in Montgomery County. Legal descriptions of Deeds of Trust require lot, block, and subdivision. When a Deed of trust (Refinance) follows a Deed with the grantors relationship designated as friends with 50% transfer on the Deed (2 grantors to 1 grantee), then transfer tax is due on ½ of the unpaid principal of the balance of the Deed of Trust being refinanced. There will be three separate transfer tax checks due: The State Transfer Tax check is payable to Clerk of the Circuit Court and the county transfer tax and recordation tax checks are payable to Montgomery County MD. Prince Georges County: Requires a county specific Finance affidavit. Here is the link for the revised form (as of August 2012): However, the Finance affidavit is not needed as long as the document states there is no new money and that they are only modifying the maturity date. All Refinances for Prince Georges County are required to submit a copy of the previously recorded document being refinanced. Reverse Mortgages: (Prince Georges County): The Finance affidavit on the second mortgage only needs to be initialed in the correct area (B1). It should not state that it is a refinance or reference any previous mortgage. An Initial Draw Affidavit may be used if an aggregate consideration amount is stated. A Death certificate can be recorded as an attachment to a Deed if it is referenced within the body of the document to which it is attached. It is not necessary to record the Death Certificate as long as the Deed indicates who has survivorship of the property. Washington County: A Death Certificate can be recorded as an attachment to another document. CERTIFICATE OF PREPARATION: Certificate of Preparation - Does signature need to be original? County Allegheny Anne Arundel Baltimore County Baltimore City Calvert Caroline Carroll Cecil Charles Requirement Must be an original signature. Can be a digital signature or a copy. Can be a digital signature or a copy. Printed name, title, and bank name are required beneath signature. Can be a digital signature Can be a copy or digital signature. Can be a copy or digital signature. Can be a digital signature Can be a digital signature Copy, digital or stamped signature is ok.

4 Dorchester Can be a digital signature or copy, however it MUST be clear.. Frederick Can be a digital signature or copy. Garrett Must be an original signature. Harford Can be a digital signature or copy. Printed name, title, bank name are required beneath signature. The word agent may not appear in their title. Howard Can be a digital signature or copy and must also list the party's title or position.. Kent Can be a digital or stamped signature. Montgomery A digital signature or copy is acceptable. The same page may not be copied continuously and used over and over.. Prince Georges Must be an original signature; digital signatures are ONLY accepted from attorneys. Queen Annes Can be an electronic/digital signature. St. Marys Can be a digital signature. Somerset Original signatures are preferred but digital signatures are acceptable. Talbot Can be a digital signature or copy if it is readable. Washington Can be a digital signature or copy and must also list the party's title or position. Wicomico Can be a copy or digital signature. Worcester Can be an electronic/digital signature. Certificate of Preparation Requirements Required for Deed, Deed of Trust and Modification? Required for Power of Attorney? Required for Assignments and Satisfactions? Required for County Subordination? Allegheny Yes No No No Anne Arundel Yes No No No Baltimore County Yes No No No Baltimore City Yes Yes Yes No Calvert Yes No No No Caroline Yes No No No Carroll Yes No No No Cecil Yes No No No Charles Yes No No No Dorchester Yes No No No Frederick Yes No No No Garrett Yes No No No Harford Yes No No No Howard Yes No No No Kent Yes No No No Montgomery Yes No No No Prince Georges Yes No No No Queen Annes Yes No No No St. Marys Yes No No No Somerset Yes No No No Notes Per Clerk, they prefer the Certificate of Preparation be on the Subordination.

5 Talbot Yes Yes/No Yes/No No Washington Yes No No No Wicomico Yes Yes No No Worcester Yes No No No Per clerk, it is not mandatory for the Certificate of Preparation to be on Subordination or POA, however if there is a blank section it must be completed. DEEDS: Deeds must state the unpaid principal balance of any open liens on the property. This may be stated above the signature line of the borrower(s). Prince Georges County has its own form for this which must be executed. Deeds should be prepared by and signed by a Maryland Attorney. However, a grantor may prepare and sign also but the Certificate of Preparation must be signed by the grantor as stated above under the Deed of Trust requirements. Transfer of Interest into or out of Trust Transfer Tax is not applicable. Adding/removing person(s) from title transfer tax is based on the percentage of interest being conveyed toward the unpaid principal balance of present liens. Exception: If there are no present liens, the tax is based on the assessed value of the property. For non-exempt deeds, transfer tax will be based upon the unpaid principal balance and will need a statement of Recordation Tax and Transfer Tax is based on $. Allegany, Carroll, Cecil, Frederick, Hartford, Howard, Prince George s, Baltimore and Baltimore City Quit Claim Deeds require an additional county specific form to be completed. Baltimore City, Baltimore County, Carroll, Cecil, Charles, Harford, Howard and Frederick Counties require a lien certificate when filing a deed. Required forms (in addition to intake sheet): MW506NRS (Used in the sale of real property by a non-resident of Maryland.), Affidavit of Residence (Used in the Sale/Transfer of Real Property by a resident of Maryland.) ALLEGHANY COUNTY 1. INTAKE Sheets only required for Deeds. Notes for Deeds: * The Total Payment Affidavit and Residency Affidavit must be signed by the borrower(s) or attorney. No agent allowed to sign! Special Notes for Deeds: ANNE ARUNDEL COUNTY Need to send an extra copy of the Deed and Intake Sheet to the Tax Office to be stamped before recording with the Circuit Court Clerk. The Tax Office will forward the documents to the Clerk. Anne Arundel Tax Office, PO Box 2700, Annapolis, MD The City of Annapolis , Require all Deeds to have a property transfer form from the City, this takes two business days to complete and the city will fill out the form and fax it back to you. This form must accompany the Deed to the following offices see link below. Make a copy of all the documents,

6 attached with the tax form and letter stating that you need the Deed time stamped. See link for procedures on where to send the document City of Annapolis. Governmental transfer of title to an individual you only pay tax on ½ of the consideration amount. Only state transfer tax applies at ½ percent. Then you can take this ½ percent of the consideration of the Deed from the new mortgage amount if recording simultaneously and recordation tax on the new amount BALTIMORE CITY 1. An original, carbon copy INTAKE SHEET is required for all Deed of Trusts and Deeds SPECIAL NOTE ON DEEDS: Lien Certificate required when removing anyone from title. First Time Home Buyer Affidavit needed if taking exemption Baltimore County SPECIAL NOTE ON DEEDS: All Deeds require an Original Lien Certificate which can be ordered from the county. When a transfer is going from an LLC to an individual, Transfer Tax is due. CARROLL COUNTY Special Notes for Deeds: Require a LIEN CERTIFICATE only on PURCHASE DEEDS. CECIL COUNTY 1. An Intake sheet only required for Deeds. Note for Deeds: *Must be stamped by the county treasurer s office before being recorded at the county. There is a $10.00 fee to Cecil Treasurer s Office for this stamp. The treasurer s office also requires 1 copy of the Deed and 4 copies of the intake sheet with the Lien Certificate Application. *If the property is in one of the towns listed below the Deed must be stamped by the township before going to the Treasurer s Office. No fee required but you must call the town for a Water Reading before sending the Deed. The township will forward to the Treasurer s Office if a SASE to the Treasurer s Office is enclosed. Cecilton Town at 117 W Main St, Cecilton MD [ ] Charlestwon at 241 Market St, Charlestwon MD [ ] Chesapeake City at 109 Bohemia Ave, Chesapeake City MD [ ] Elkton Town at 100 Railroad Ave, Elkton MD [ ] North East at 106 S Main St, North East MD [ ] Perryville at 515 Broad St, Perryville MD [ ] Port Deposit Town at 64 S Main St, Port Deposit MD [ ] Rising Sub at 1 East Main St, Rising Sub MD [ ]

7 CHARLES COUNTY Note: *Requires a Lien Certificate at the time of Recording. When you get the Lien Cert back from the treasurer s office send the Original Deed, Lien Cert and a $20.00 made payable to the Charles County Treasurer to the Clerk of the Circuit Court. DORCHESTER COUNTY 1. All Deeds and Mortgages require an INTAKE SHEET. FREDERICK COUNTY Notes for Deed: *Must submit a Real Property Data Search and to [Treasurer s Office of Frederick County] Any Deed in Frederick county with a sales price will need a Final Water and Sewer Bill. Fax a request into the [Division of Utilities and Solid Waste Management]. They will fax the request back with the final water bill if any, this will need to be paid before recording the Deed. Division of Utilities and Solid Waste Management 4520 Metropolitan Court Frederick MD Phone# or 3476 Fax# GARRETT COUNTY 1. An Intake sheet only required for Deeds. HARFORD COUNTY Notes for Deed: *Must be submitted with a Lien Certificate. * A agent can sign for the borrowers on the Total Payment Affidavit and the Affidavit as to Total Payment as long as there is a statement stating Based on a diligent inquiry and is true to the best of my knowledge, information and belief. If the property is located in any if the following counties the Deed will need a Tax Statement or need to get the Deed Stamped by that town. Call the town to see what is needed: Town of Aberdeen Town of Bel Air Town of Havre de Grace HOWARD COUNTY 1. INTAKE SHEET only required for Deeds. Special Note on Deeds: Requires a original Lien Certificate and a extra copy of the Deed and intake sheet be sent to the Dept of Finance. Fee is to [Director of Finance] Send to Bureau of Collections: 3430 Court House Drive, Ellicott City, MD (If there is no interest being conveyed, a Lien Certificate is not needed. However, a tax stamp is still needed and a copy of the deed must be submitted)

8 The Total Payment Affidavit and Residency Affidavit must be signed by the borrower(s). No agent is allowed to sign this form. KENT COUNTY Special Note on Deeds: The Total Payment Affidavit and Residency Affidavit must be signed by the borrower(s). No agent allowed to sign MONTGOMERY COUNTY 1. Residency Affidavit can not be signed by an agent. INTAKE SHEET (3 copies) are required for all documents Special Notes for Deed: * TAX AFFIDAVIT required for Purchase Deeds * DEED TAX [Detail Information] * The Total Payment Affidavit and Residency Affidavit must be signed by the borrower(s). No agent allowed to sign When a deed is adding a spouse to a title, all that is required is the deed and intake forms; the deed CAN be mailed. Certificate of Residence is not required if the quitclaim deed has no consideration. PRI NCE GEORGE S COUNTY Required Forms for Deeds: * REQUIRE AN AFFIDAVIT TO BE SUBMITTED WITH THE DEED IF THE DEED DOES NOT STATE THE UNPAID PRINCIPAL BALANCES. Special Notes on Deeds: Need to state the Unpaid balance on the Deed or a Affidavit stating this fact. The affidavit must be signed by the Grantors. NO CONSIDERATION DEED AFFIDAVIT shows information on how they will tax on the Deed and the different exemptions for the different relationships. QUEEN ANNE S COUNTY The Total Payment Affidavit and Residency Affidavit must be signed by the borrower(s). No agent can sign the form.

9 St. MARY S Special Note on Deeds: The Total Payment Affidavit and Residency Affidavit must be signed by the borrower(s). No agent can sign the form. TALBOT COUNTY Special Notes for Deeds: * The Total Payment Affidavit and Residency Affidavit must be signed by the borrower(s), no agent allowed to sign. *An additional copy of the Deed and Intake Sheet must be sent to the Finance Office first, to be stamped. WASHINGTON COUNTY Special Note of Deeds: The Residency Affidavit must be signed by the borrower(s). No agent is allowed to sign this form. WICOMICO COUNTY Special Note for Deeds: The Total Payment Affidavit and Residency Affidavit must be signed by the borrower(s). No agent is allowed to sign this form. WORCESTER COUNTY Special Note for Deeds:

10 The Total Payment Affidavit and Residency Affidavit must be signed by the borrower(s). No agent is allowed to sign this form. If the property is located in one of the following towns, the deed must be stamped by them before going to the Treasurer s office: Ocean City Berlin Snow Hill Pocomoke