Maryland Code > TAX – PROPERTY > Title 13 – Transfer Taxes


Subtitle 1	Definitions; General Provisions	13-102 – 13-103
Subtitle 2	State Tax – in General	13-201 – 13-209 v2
Subtitle 3	Agricultural Land Transfer Tax	13-301 – 13-308
Subtitle 4	County Transfer Taxes – in General	13-401 – 13-413
Subtitle 5	Washington County Agricultural Land Transfer Tax	13-501 – 13-505

Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
Appraisal: A determination of property value.
de novo: means judicial review based on an administrative record and any additional evidence that would be authorized by § 10-222(f) and (g) of the State Government Article. See
Decedent: A deceased person.
Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
Grantor: The person who establishes a trust and places property into it.
Legacy: A gift of property made by will.
Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.