Maryland Code, TAX – GENERAL 7-208
Terms Used In Maryland Code, TAX - GENERAL 7-208
- County: means a county of the State or Baltimore City. See
- Decedent: A deceased person.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
(2) If the court approves an account required under § 7-305 of the Estates and Trusts Article, in which a concurrent absolute interest or less than absolute interest is valued:
(i) approval of the account is deemed to be court determination of the value of the concurrent absolute or less than absolute interest, for purposes of the inheritance tax; and
(ii) a separate petition to the court or a separate judicial order is not needed to value the concurrent absolute interest or the less than absolute interest.
(b) If there is no formal administration of the estate, the register in the county where the inventory is filed shall determine, for purposes of the inheritance tax, any concurrent absolute interest or less than absolute interest in property that passes from a decedent.