Changing Nature of Maryland Indemnity Deeds of Trust (IDOTS)


For decades, commercial real estate lenders and their developer customers have used a particular financing technique to minimize payment of Maryland's steep recordation tax on mortgages. As of July 1, 2012, however, new legislation imposes the recordation tax on any indemnity mortgage or indemnity deed of trust (commonly called an “IDOT”) which secures debt of $1 million or more.

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Published In: Commercial Real Estate Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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