Transfer Process: Consideration

Maryland Assessment Procedures Manual

As of July 1, 1978, the amount of actual consideration paid, or to be paid, the amount of any mortgage, or deed of trust assumed by the grantee, or the principal amount of the debt secured shall either be included in every deed or instrument, or be contained in a separate affidavit accompanying the instrument.

All transfer clerks must require this new procedure to be complied with in ascertaining the correct amount of the consideration and mortgage. Transfer forms will be revised to include a statement that the information is true, correct, and complete, with a space provided for a signature which shall be used whenever the proper certificate does not accompany any instrument presented for transfer.

The office of the Comptroller has distributed a standard "Affidavit of Consideration" to all clerks of the courts. (Sample below)

DATE

AFFIDAVIT OF CONSIDERATION

I,__________________________________, hereby certify under the penalties of perjury that the actual consideration paid or to be paid for the aforegoing conveyance, including the amount of

any mortgage or deed of trust assumed by the grantee, is in the sum total of $______________________.

WITNESS:

Affiant(s)