News & Analysis as of

Deed of Trust Refinancing

Ballard Spahr LLP

Maryland to Increase IDOT Exemption Threshold Effective July 1, 2024

Ballard Spahr LLP on

Summary - The threshold for indemnity deed of trust (IDOT) recordation tax deferral in Maryland increased from $3,000,000 to $12,500,000, effective July 1, 2024. This is welcome news for commercial real estate owners and...more

Miles & Stockbridge P.C.

Tax Lien Takes Priority Over Earlier Interest Where Deed is Improperly Executed

In the recent case of The Bank of NY Mellon v. Ashley, et al., 119 AFTR 2d 2017-1207 (D.C. Md. 2017), the U.S. District Court for the District of Maryland held that, where taxpayer-husband alone executed a deed of trust in...more

K&L Gates LLP

Court Says Refinancing Lender Can’t Get No Satisfaction When Paying Down Existing Lender’s HELOC

K&L Gates LLP on

Loan servicers often receive payments on open-end home equity lines of credit (“HELOC”) that pay the balance down to $0. Sometimes that is because the borrower intends to pay off the loan through a refinancing or sale of the...more

Saul Ewing Arnstein & Lehr LLP

Maryland taxes on refinancings to increase – the end of (new) "IDOTS"

On May 22, 2012, Maryland's Governor O'Malley signed legislation mandating that indemnity mortgages and indemnity deeds of trust will be subject to recordation taxes. Property owners now have just over a month to refinance...more

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