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