I would like to tranfer my properties to my son and daughter. How much does it cost me to tranfer a deed in Md.
1 Answer | Asked in Real Estate Law for Maryland on Apr 1, 2013.
Answered On Apr 11, 2013
No fee is set by law and each firm sets its own fees (For instance, my firm charges $200 for most stand alone deeds, you are welcome to call other firms and get their fee schedules). Besides a lawyer's fee for drawing up a deed, there are governmental recording charges, currently around $60 and some counties require a lien release at a fee of $50 or so. Before you transfer property to a child outright, I encourage you to map out the reasons for doing this. Sometimes there are better ways to transfer property rather than simply giving it outright and an outright transfer may involve gift tax returns. While I hope this general legal information helps, it doesn't provide legal advice on the specifics of your situation. You may want to meet with an attorney to get personal advice.