Family Owned Real Estate: Legal Challenges & Opportunities
Once Removed Episode 21: Passing Down the “Family Cottage” or Other Legacy Property
War of the Rosas
Seyfarth Synopsis: Montgomery and Anne Arundel Counties in Maryland are increasing their recordation and transfer taxes, while 2019 increases to recordation and transfer taxes in the District of Columbia are set to expire....more
On May 9, 2023, the Montgomery County, Maryland Council voted 7-4 in favor of increasing its real estate recordation tax by enacting Bill 17-23, Taxation – Recordation Tax Rates – Amendments. Councilmember Kristin Mink was...more
As has been announced, the cost of real estate transactions involving commercial property located in the District of Columbia will increase significantly as of October 1, 2019, but not necessarily for multifamily properties....more
Last month D.C. Mayor Muriel Bowser submitted her proposed 2020-2023 budget and financial plan to the D.C. Council. The Mayor’s proposed budget and financial plan includes a proposal to increase transfer and recordation taxes...more
It is pretty well known that Maryland imposes taxes upon the sale/purchase of real property. The State requires both a recordation tax and a transfer tax to be paid whenever an ownership interest in property is transferred....more