Maryland Code, REAL PROPERTY 2-122
Terms Used In Maryland Code, REAL PROPERTY 2-122
- Decedent: A deceased person.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Grantor: The person who establishes a trust and places property into it.
- including: means includes or including by way of illustration and not by way of limitation. See
- Inter vivos: Transfer of property from one living person to another living person.
- Person: includes an individual, receiver, trustee, guardian, personal representative, fiduciary, representative of any kind, corporation, partnership, business trust, statutory trust, limited liability company, firm, association, or other nongovernmental entity. See
- Personal representative: includes an administrator and an executor. See
- state: means :
(1) a state, possession, territory, or commonwealth of the United States; or
(2) the District of Columbia. See - Trustee: A person or institution holding and administering property in trust.
(2) “Trust” includes the following instruments or funding arrangements in the nature of a trust:
(i) A profit sharing plan;
(ii) A retirement plan;
(iii) A liquidating or liquidation plan; and
(iv) An unincorporated foundation.
(3) “Trust” does not include:
(i) A real estate investment trust as defined in § 8-101 of the Corporations and Associations Article;
(ii) A statutory trust as defined in § 12-101 of the Corporations and Associations Article; or
(iii) A trust, formed under the law of another state or a foreign country, that authorizes a trust to take, hold, and dispose of title to property in the name of the trust.
(b) (1) A grant of property by deed to a grantee designated in the deed as a trust has the same effect as if the grantor had granted the property to the trustee or trustees appointed and acting for the trust on the effective date of the deed.
(2) If executed by the trustee or trustees appointed and acting for the trust on the effective date of the deed, a grant of property by deed from a grantor designated in the deed as a trust has the same effect as if the grantee had received the property from the trustee or trustees appointed and acting for the trust on the effective date of the deed.
(c) (1) A grant of property by deed to a grantee designated in the deed as an estate of a decedent, including the estate of a nonresident decedent, has the same effect as if the grantor had granted the property to:
(i) The personal representative or personal representatives appointed by a register of wills or orphans’ court in the State for the estate and acting as the personal representative on the effective date of the deed; or
(ii) A foreign personal representative exercising the powers of the office for the estate of a nonresident decedent on the effective date of the deed.
(2) If executed by the person or persons indicated in item (i) or (ii) of this paragraph as applicable, a grant of property by deed from a grantor designated in the deed as an estate of a decedent, including the estate of a nonresident decedent, has the same effect as if the grantee had received the property from:
(i) The personal representative or personal representatives appointed by a register of wills or orphans’ court in the State for the estate and acting as the personal representative on the effective date of the deed; or
(ii) A foreign personal representative exercising the powers of the office for the estate of a nonresident decedent on the effective date of the deed.