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Recent Articles from Edward Levin
Real property, recordation and transfer taxes
On July 1, the Maryland Court of Special Appeals held that in a sale of business assets that includes both real property and other types of property, the state recordation and transfer taxes and the transfer taxes of Montgomery and Baltimore counties apply only to the value of the real property. The consideration paid for […]
Court holds goodwill subject to recordation, transfer taxes
The Circuit Court for Baltimore County recently held that the portion of a sale of three senior living facilities relating to the business’ goodwill was subject to recordation and transfer taxes. In the Matter of Shelter Senior Living IV, L.L.C. v. Montgomery County, Clerk of the Circuit Court for Montgomery County, Baltimore County, and Clerk […]
Court: Lien of Columbia Association declaration does not have first priority
The United States Bankruptcy Court for the District of Maryland recently held that the lien position of the assessments under the declaration that encumbers the land in Columbia, Maryland (the “Declaration”) was subordinate to that of a deed of trust on a particular property. Therefore, when the proceeds of a sale of that property were […]
Lenders relax: Mortgages have priority over declarations
The Court of Appeals recently held a recorded declaration that established water and sewer assessments on lots in a residential development did not by itself create a lien on the property. Instead, a lien can only be created after following the procedures of the Maryland Contract Lien Act. Therefore, a mortgage has priority if recorded […]
Edward J. Levin: Lenders beware – assessments have priority over mortgages
In Select Portfolio Servicing Inc. v. Saddlebrook West Utility Company LLC the Court of Special Appeals held last month that water and sewer assessments in favor of a private utility company created by a declaration on a residential development in Prince George’s County had priority over the lien of a subsequently recorded deed of trust […]
Edward J. Levin: A tale of two inadvertent releases
Consider the following (not so) hypothetical cases. No. 1. A lender made two loans to the same borrower. The borrower wanted to pay off one of the loans (Loan 1), but not the other (Loan 2). The lender agreed that it would release the financing statements that related to Loan 1. The borrower’s counsel performed […]
Edward J. Levin: D.C. condo assessment can extinguish deed of trust
The District of Columbia Court of Appeals recently held that a first deed of trust on a condominium unit may be extinguished by a foreclosure sale that is held to satisfy six months of unpaid condominium assessments.
Edward J. Levin: The Maryland-Virginia boundary shifts and changes
The Court of Special Appeals recently held that the boundary line between Maryland and Virginia, west of the District of Columbia, although fixed in a theoretical manner, actually shifts over time along with erosion and accretion of the south bank of the Potomac River.
Federal court strikes MERS system in Pennsylvania
On June 30, the U.S. District Court for the Eastern District of Pennsylvania ruled that assignments of mortgages are required to be recorded under Pennsylvania law, and in so doing toppled the MERS electronic recording system of residential mortgages in that state.
Edward J. Levin: If a tree falls in Maryland, who is responsible?
We are often asked: What happens if a tree falls in Maryland? Or, what can you do when branches or roots of a tree growing on your neighbor’s property encroach onto your property and cause you damage?
Edward J. Levin: What is an SNDA and who needs one?
One of the closing documents in a real estate financing transaction involving leased property is a subordination, non-disturbance, and attornment agreement (an “SNDA”). SNDAs have a number of purposes. They serve to connect the lender with the tenant, and they provide other uses as well.
Edward J. Levin: Howard County reimburses taxpayers $587K in IDOT case
On July 12, Howard County reimbursed five taxpayers for $587,151.56 in connection with recordation taxes that they had paid under protest. This amount includes $499,112.50 for the amount of the taxes that the County forced the taxpayers to pay plus $88,039.06 in interest as required by Maryland law.
