Anne Arundel and Montgomery Increase Transfer & Recordation Taxes

June 22, 2023

In an effort to raise funds for Capital Projects and Housing Initiatives, council members in Anne Arundel and Montgomery counties each passed budgets for the upcoming year that includes increases in Transfer and Recordation Taxes.

This may start affecting your closings as early and July 1 in Anne Arundel County. Upon the transfer or sale of properties valued at $1 million or more, the previous 1% transfer tax will become 1.5%. 

Council members passed this budget change last week. Specific details as to the logistics within the recorder’s office have not been released. If you are currently under contract  in Anne Arundel County for $1 million or more, please contact your Settlement Agent for updated transfer costs.

Montgomery County will also increase recordation tax effective October 1. This change will apply to transfers, sales and refinance transactions valued over $600,000. 

For recordation value between $600,001 and $750,000, the rate will be $5.75/$500 (a 150% increase). 

For recordation value between $750,001 and $1 million, the rate will be $6.33/$500 (a 175% increase). 

For recordation value over $1 million, the rate will be $6.90/$500 (a 200% increase).

All changes in transfer and recording costs are updated in our Seller Net Sheet and Buyer Estimate Calculator.

For more information please visit:

Team Member Spotlight: Post-Closer Jamie Doyle

June 29, 2022

Jamie Doyle’s superpower is organizing everything around her. 

That’s a perfect superpower for a post-closer, and it’s why she has fit right in as one of the newest members of the Assurance Title team. She believes that she didn’t choose the title industry. Rather, the title industry chose her.

Jamie thrives on being busy — which we are happy to oblige — and she fuels up each day on a combination of coffee, candy and chocolate. The good news is that she’s happy to share with her colleagues around the office.

We’ve had a great time getting to know Jamie. Now it’s your turn. Check out this rapid-fire Q&A …

Read more

Maryland’s Recapture Tax Means Estates May Owe Back a Portion of the Homestead Tax Credit

June 21, 2022

Many counties in Maryland recently changed their treatment of the Homestead Tax Credit when an estate is the seller. This new Recapture Tax comes as an unwelcome surprise to listing agents and personal representatives because it can drastically reduce seller net proceeds.

First, let’s talk about the Homestead Tax Credit (HTC). The HTC shields homeowners from drastic tax increases. The credit is reserved only for a principal residence. A homeowner is eligible to apply after they lived in the property for one year. Read more

Team Member Spotlight: Title Review Specialist Jackie Jackson-Hahn

June 21, 2022

As a little girl, Jackie Hahn-Jackson dreamed of driving big rigs up and down the interstates. We have no doubts that she would have made an outstanding trucker, but we are selfishly glad that she instead built a career in the title industry.

Her tenacity and attention to detail make her a perfect fit as a Title Review Specialist. It’s not a position that every title company has, but we’ve learned very quickly that it’s a valuable one. Jackie is in her element when she is diving deep into title research and delivering a clean title that’s ready for settlement.

Read more

Team Member Spotlight: Business Development & Marketing Manager Kiona Moore

May 16, 2022

We are so excited to announce Kiona Moore as our new Business Development and Marketing Manager. Kiona was Assurance’s very first hire as a post closer. She worked her way up to management and now brings her leadership and customer service skills to the marketing team at Assurance Title.

If you haven’t had the chance to work with Kiona yet, you’re in for a treat. In the meantime, check out this quick Q&A to get to know her.

Read more

Understanding Guardianship and Property-Related Decisions

May 11, 2022

If you’ve been a Realtor for any length of time, you know that people will come to you for advice on all things related to real estate.

At some point in your career, you’re bound to encounter a question about how to handle a situation where the owner of a property, likely a loved one, is no longer mentally and physically able to care for the property and make the necessary decisions about how to handle the property — including when it’s time to sell. Read more

Money Laundering, FinCEN and What It Now Means for You

May 9, 2022

Unfortunately, money laundering occurs in real life — and not just by Jason Bateman in “Ozark.”

Traditional hotspots have been California, Miami, New York, Chicago. But guess who just made the list!

The US Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a new Geographic Targeting Order with reporting requirements that affect real estate transactions in Washington, D.C., Northern Virginia, Maryland and especially Baltimore! Read more

How title companies compete in Pennsylvania

February 14, 2022

In Pennsylvania, Title Companies Compete on Service. That’s Our Specialty.

Did you know Advantage Title is licensed in Pennsylvania? And did you know that Pennsylvania is an “All-Inclusive” Rate state?  Read more

Why are settlements backward in Virginia?

February 10, 2022

Don’t Worry, Virginia. We Won’t Make You Wait.

Did you know that Assurance Title is licensed in Virginia? And did you know that in Virginia a title company is required to record the deed and mortgage BEFORE they are authorized to deliver Seller Proceeds and Realtor Commission? Read more