Indemnity Deeds of Trust (IDOT) Work Group
The Department of Assessments and Taxation chaired a Workgroup for the Indemnity Deeds of Trust recordation tax enacted by the 2012 Special Session of the General Assembly. The entire Final Report of the IDOT Workgroup is available by clicking on the link in brown below. The Final Report and the items below are in PDF.
Indemnity Deeds of Trust (IDOT) Workgroup Final Report.
Testimony of Edward J. Levin, Esquire: Attached for posting on the webpage of the State Department of Assessments and Taxation devoted to the IDOT Workgroup are the following memoranda and form affidavits relating to the taxation of indemnity deeds of trust (IDOTs) as a result of Senate Bill 1302, effective July 1, 2012. To my knowledge and the knowledge of other members of the IDOT Workgroup, these are the only memoranda on this subject by Maryland officials that are in effect as of December 14, 2012. A summary which I prepared of these memoranda is also attached. This demonstrates the difference in opinions among the various jurisdictions which have issued memoranda, and it explains the confusion and inconsistency which has occurred following the effective date of Senate Bill 1302.