Cambridge, MD asked in Real Estate Law for Maryland

Q: I would like to tranfer my properties to my son and daughter. How much does it cost me to tranfer a deed in Md.

Related Topics:
1 Lawyer Answer
  • Crownsville, MD
  • Licenced in Maryland

A: 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...

Justia Legal Answers is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Legal Answers is not secure and is done so on a non-confidential basis only.

The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Legal Answers without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.

Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.