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MD HB625
Bill
Status
Introduced
1/23/2025
Primary Sponsor
Scott Phillips
Click for details
AI Summary
- Creates transfer-on-death (TOD) deeds in Maryland, allowing sole property owners to transfer real property to designated beneficiaries upon death without probate
- TOD deeds must be recorded in county land records before the transferor's death to be effective, and can be revoked at any time by the transferor through a recorded revocation document or new deed
- Exempts TOD deeds for primary or secondary residences from state recordation tax, transfer tax, and county transfer tax
- Requires the Administrative Office of the Courts to develop public informational materials explaining TOD deeds and provides standardized forms for creating and revoking such deeds
- Effective October 1, 2025, with retroactive application to TOD deeds executed before that date if the transferor dies on or after the effective date
Legislative Description
Real Property - Transfer-on-Death Deed - Establishment
Records
Last Action
Hearing 2/12 at 1:00 p.m. (Judiciary)
1/27/2025
Committee Referrals
Judiciary1/23/2025
Full Bill Text
No bill text available