Section 12-114 - Charles County rental transfer exemption. - Maryland Statutes

§ 12-114. Charles County rental transfer exemption.
 

(a)  "Rental dwelling" defined.- In this section, "rental dwelling" means residential real property with accommodations for not more than 4 units that is held by the owner primarily for rental, investment, or the generation of income and is located in a targeted area designated by the governing body of Charles County under § 9-310(c) of this article. 

(b)  Exemption authority.- The governing body of Charles County may grant, by law, an exemption, in whole or in part, from the recordation tax imposed on an instrument of writing that transfers a rental dwelling in Charles County to an individual who will occupy the property as a principal residence. 

(c)  Requirements for exemption.- To qualify for the exemption authorized under this section, the instrument of writing shall be accompanied by: 

(1) a statement under oath signed by the grantor that the property has been held by the grantor as a rental dwelling; and 

(2) a statement under oath signed by the grantee that the residence will be occupied by the grantee as the grantee's principal residence. 

(d)  Amount; duration; implementation.- The governing body of Charles County may provide by law for: 

(1) any additional criteria for eligibility, conditions, or restrictions for an exemption provided under this section; 

(2) provisions to define, fix, or limit the amount, terms, and scope of an exemption provided under this section; and 

(3) any other provision appropriate to implement the exemption. 
 

[1999, ch. 547.]