Transfer of Real Property - Recordation Certification and State Transfer Tax (Land Transfer Accountability Act)

HB 1009 (Land Transfer Accountability Act) requires a certificate of compliance from Maryland’s Attorney General and Department of Assessments and Taxation before recording any property transfer from the U.S. government to private individuals or entities. This applies specifically to sales of federally owned land, mandating a review to ensure compliance with state and federal laws before the transfer is officially recorded. The bill also establishes a new state transfer tax rate for these property transactions. It directly affects buyers purchasing property previously owned by the U.S. government, adding a certification step and tax requirement to the process. The law amends existing property and tax codes to implement these changes.