Aestar – How much is the transfer tax to remove a spouse’s name from a title?

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The scenario is that the primary residence with the market value of $500,000 is co-owned by a couple in Montgomery County, Maryland. The husband will pay off, by cash, the unpaid principal balance of the mortgage in the amount of $56,000 in exchange for removing the wife’s name from the deed. Thus, the transfer tax = $0 =
$0 (State Recordation Tax – Spousal Transfer is exempt.) +
$0 (State Transfer Tax – Spousal Transfer is exempt.) +
$0 (County Transfer Tax – Spousal Transfer is exempt.).

Contact me should you have further questions.

Jonathan Kan, Licensed Title Producer/Notary Public
Aestar LLC
15881-B Crabbs Branch Way, Rockville, MD 20855
C: 240-351-6098 F: 888-501-3060 E: [email protected]
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Jonathan D. Kan, ESQ. is admitted to practice before the Court of Appeals of Maryland in 2017. Mr. Kan graduated as a Juris Doctor of University of Baltimore School of Law, Maryland, in 2017, concentrating on criminal, trust and estate, and real estate laws. Mr. Kan has published the Aestar Blog since 2015. He co-founded Aestar LLC in 2013. Mr. Kan has been a licensed title producer, settlement agent, and notary public serving the Maryland and Virginia states since 2013.

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