448

LAWS OF MARYLAND

Ch. 8

(B)  LIENS ON VEHICLES AND VESSELS.

A SECURITY AGREEMENT IS NOT SUBJECT TO RECORDATION TAX, IF
THE SECURITY AGREEMENT IS:

(1)  ON A VEHICLE AND IS PERFECTED BY FILING WITH THE
MOTOR VEHICLE ADMINISTRATION; OR

(2)  ON A VESSEL AND IS PERFECTED BY FILING WITH THE
DEPARTMENT OF NATURAL RESOURCES.

(C)  TRANSFERS BETWEEN RELATIVES.

AN INSTRUMENT OF WRITING THAT STATES THE PRINCIPAL AMOUNT OF
DEBT INCURRED ON PROPERTY SECURED BY A MORTGAGE OR DEED OF TRUST
ASSUMED BY A TRANSFEREE IS NOT SUBJECT TO RECORDATION ON TAX THE
RECORDATION TAX DOES NOT APPLY TO THE PRINCIPAL AMOUNT OF DEBT
SECURED BY A MORTGAGE OR DEED OF TRUST ON PROPERTY TRANSFERRED BY
AN INSTRUMENT OF WRITING, IF THE TRANSFEROR TRANSFERS THE
PROPERTY TO A:

(1)  SPOUSE OR FORMER SPOUSE;

(2)  SON OR DAUGHTER;

(3)  PARENT;

(4)  SON-IN-LAW OR DAUGHTER-IN-LAW; OR

(5)  PARENT-IN-LAW.

(D)  TRANSFERS BETWEEN SPOUSES.

AN INSTRUMENT OF WRITING THAT TRANSFERS PROPERTY BETWEEN
SPOUSES OR FORMER SPOUSES IN ACCORDANCE WITH A PROPERTY
SETTLEMENT OR DIVORCE DECREE IS NOT SUBJECT TO RECORDATION TAX.

(E)  SUPPLEMENTAL INSTRUMENTS.

EXCEPT TO THE EXTENT THAT A SUPPLEMENTAL INSTRUMENT OF
WRITING INCREASES THE AMOUNT OF DEBT SECURED, THE SUPPLEMENTAL
INSTRUMENT IS NOT SUBJECT TO RECORDATION TAX. A SUPPLEMENTAL
INSTRUMENT OF WRITING IS NOT SUBJECT TO RECORDATION TAX EXCEPT TO
THE EXTENT THAT:

(1) ACTUAL CONSIDERATION IS PAYABLE ON THE
SUPPLEMENTAL INSTRUMENT OF WRITING; OR

(2) THE AMOUNT OF DEBT IS INCREASED BY THE
SUPPLEMENTAL INSTRUMENT OF WRITING.

(F) PREVIOUSLY RECORDED INSTRUMENT.

AN INSTRUMENT OF WRITING PREVIOUSLY RECORDED IS NOT SUBJECT
TO RECORDATION TAX WHEN THE INSTRUMENT OR A CERTIFIED COPY