1.5 ELECTIVE HOURS for MD and DC. Learn the details of Maryland law regarding the proper contract treatment of Maryland's Transfer and Recordation Taxes when working with first-time buyers. Discussion includes the treatment of these taxes for both the GCAAR Sales Contract and the MR Residential Contract of Sale, and discussion of the Montgomery County Recordation Tax exemption for owner-occupants. Whether working with buyers or sellers, this class is a must for the licensee to maintain compliance with the law and avoid contractual issues. Instructed by Bob Pettis.