The Recording fee for real estate transactions in the State of Maryland will be going up as of July 1, 2011.

Devin Holland, of Real Estate Title & Escrow, explains why in a guest blog post. Thank you, Devin, for sharing!

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July 1st brings along the excitement of Independence Day fireworks, barbecues and the height of summer fun. This year, in the State of Maryland, it also involves some new fees for recording documents.  Beginning July 1st, 2011, a $20 surcharge will be instituted on all recorded instruments including Deeds, Deeds of Trust (Mortgages), and Powers of Attorney. This increased surcharge will only affect instruments executed on or after July 1, 2011. Any documents executed prior to this date will not be affected.

What does this mean for the consumer? Standard Deeds, Deeds of Trust, and Mortgages will now cost $60 instead of $40. Some Enhanced Deeds, Investment Deeds of Trust and Mortgages will cost anywhere from $100-$115. The fee for financing statements to be filed and Powers of Attorney to be recorded will increase from $20 to $40.

The increase imposed by the General Assembly is stated to be temporary and should, in theory, expire in 2015. The last increase in the surcharge for recordation of instruments in the land records and the financing statement records of the Circuit Courts was June 1, 2003, when the fee was raised from $5 to the current $20.
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Thank you so much, Devin! I appreciate your insight!

Devin Holland is a Marketing Associate/Settlement Officer with Real Estate Title & Escrow, and can be reached at 443-235-5232 or dbholland@mdretitle (dot) com. His company website is www.mdretitle.com.

For more information on how to buy a home in Baltimore, please contact me. I would be happy to help!