Subject: Aestar – Recordation tax occurs to refinance and to add daughter’s name to deed
Aestar LLC supervises the sale transactions, verifies legal documents, and insures real estate titles.
Aestar LLC is a different title company. Aestar offers knowledge to protect consumers: buyers and sellers.
The scenario is that a Mom owns an investment property, the market value $500,000, in Montgomery County, Maryland. The mortgage was paid off entirely. She wants to obtain a new construction loan of $250,000 to re-build the house and to add her daughter’s name to the deed of $280,000. Thus, the transfer tax = $1,725
$1,725 (State Recordation Tax) +
$0 (State Transfer Tax) +
$0 (County Transfer Tax).
Contact me should you have further questions.
Jonathan Kan, Licensed Title Producer/Notary Public
Aestar Settlements LLC
15881-B Crabbs Branch Way, Rockville, MD 20855
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This column is not legal advice and should not be acted upon without obtaining your own legal counsel.
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