Free Reporting a Transfer of a Controlling Interest - Maryland

Maryland State Department of Assessments & Taxation

Office Use Only

REPORT OF TRANSFER OF CONTROLLING INTEREST
(Please read the instructions below before completing this form)

1. Type of filing:

Regular

Permissive

2. Date of final transfer: _________________________________ 3. Name of Real Property Entity whose interest is being transferred: _______________________________ __________________________________________________________________________________________ 4. Mailing address for Real Property Entity: ____________________________________________________ __________________________________________________________________________________________ 5. Type of Real Property Entity: Unincorporated REIT Corp LLC LP GP or Joint Venture

Other-specify___________________________

6. State of formation: ___________________________________ 7. Total consideration for the controlling interest being transferred: $_________________________ 8. List below the value attributable to each of the following assets: a) Maryland Real Property b) Non-Maryland Real Property c) Cash d) Securities e) Maryland Tangible Personal Property* $ ________________________ $ ________________________ $ ________________________ $ ________________________ $ ________________________

*Provide SDAT personal property account # for each return: ______________________________________________________________________________ ______________________________________________________________________________ f) Non-Maryland Tangible Personal Property g) Other: Attach description and method of valuation 9. Gross value of Real Property Entity assets: $ ________________________ $ ________________________ $_________________________

Maryland State Department of Assessments & Taxation

10. Real property in Maryland directly or beneficially owned by the Real Property Entity: Parcel 1:
County Name

___________________ __________________________ __________________________________________
SDAT Account No. Address or brief description

Description of building/improvements: ___________________________________________________________ Title holder if different from Item 3 above: ________________________________________________________ Consideration attributable to the parcel: $______________________ Parcel 2:*
County Name

_________________ ________________________
SDAT Account No.

______________________________________________
Address or brief description

Description of building/improvements: ____________________________________________________________ Title holder if different from Item 3 above: _________________________________________________________ Consideration attributable to the parcel: $______________________
*If more than two parcels, attach a separate sheet and indicate total number of parcels: ________

11. Specify and explain any exemptions authorized by law being claimed with this filing: ___________________________________________________________________________________________ ___________________________________________________________________________________________ ___________________________________________________________________________________________ 12. Transfer and Recordation taxes paid with this filing: Item 7 amount: $ Item 9 amount: $ x _______________ = $________________ x _______ = $________________ Item 8a amount Total amount Co. Rate Co. Recordation $________________ x 0.5% = $________________
Total amount Total amount St. Rate Co. Rate State Transfer Co. Transfer
(Attach a separate sheet if more space is required).

$________________ x _______ = $________________ Total Taxes $__________________

Add the $20 filing fee to the amount of the total taxes and make the check payable to the State Department of Assessments & Taxation.

13. I hereby declare under the penalties of perjury, pursuant to § 1-201 of the Maryland Tax-Property Code Annotated, that this filing (including any accompanying forms and attachments) has been examined by me and the information contain herein, to the best of my knowledge and belief, is true, correct and complete, that I am authorized to make this filing on behalf of the Real Property Entity, that I have accurately reported the percentage of controlling interest being transferred, that I have fully reported the consideration attributable to Maryland Real Property, and that I have answered truthfully each item of information requested on the form. _____________________________________
Signature of authorized filer

_________________
Date

Maryland State Department of Assessments & Taxation

14.) Contact information for this filing:

_____________________________________________ Name

____________________________________ Telephone

_________________________________________________________________________________________ Address City State Zip code

SDAT

INSTRUCTIONS FOR A REPORT OF TRANSFER OF CONTROLLING INTEREST
NOTE: There is a $20 filing fee for the submission of this form to the Department in addition to the payment of the applicable State and County recordation and transfer taxes. Once filed, the completed form will be viewable on the Department's website.

ITEM 1 - TYPE OF FILING: A regular filing is required by law, whether taxable or exempt under Tax-Property Article, § 12-117. A permissive filing occurs when either the 80% Maryland real property asset standard or the transfer of 80% of the controlling interest standard is not met but it is filed optionally pursuant to COMAR 18.13.02.05 C and D. ITEM 2 - DATE OF FINAL TRANSFER: The date of final transfer is the date when more than 80% of the controlling interest has been transferred. In cases of multiple step transfers, see COMAR 18.13.02.04. ITEM 3 - NAME OF REAL PROPERTY ENTITY WHOSE INTEREST IS BEING TRANSFERRED: Report the name of the entity whose interest is being transferred. It might not be the record title holder. ITEM 4 - MAILING ADDRESS FOR REAL PROPERTY ENTITY: This is the address where the management of the Real Property Entity wishes to receive official correspondence. However, the Real Property Entity must separately notify the Supervisor of Assessments in the county where a particular property is located to change the address for the receipt of the regular real property assessment notice or the property tax bill. ITEM 5 - TYPE OF REAL PROPERTY ENTITY: Check the appropriate box for the type of legal entity whose controlling interest is being transferred. ITEM 6 - STATE OF FORMATION: Indicate the jurisdiction where the current organizational documents for the Real Property Entity are on file. ITEM 7 - TOTAL CONSIDERATION FOR THE CONTROLLING INTEREST BEING TRANSFERRED: The information requested here is the total consideration for all the interests being transferred under the plan of transfer. It also includes any mortgage or other security interest on the Maryland real property and any other debt or encumbrance of the Real Property Entity. If the transfer is being accomplished through multiple steps, it includes the total consideration for all steps. ITEM 8 - LIST BELOW THE VALUE ATTRIBUTABLE TO EACH OF THE FOLLOWING ASSETS OF THE REAL PROPERTY ENTITY: The filer of this form shall provide an itemization of the value allocable to each of the assets listed. These values represent the full cash value for each line item at the date of the final transfer. The amounts reported here are prior to any allocation if this transaction is less than the purchase of the entire interest in the Real Property Entity If an amount is claimed for Maryland personal property not subject to these taxes, then the filer must provide the separate SDAT personal property account number where that personal property has been previously reported to the Department on a tax return. If there are other deductions claimed for such assets as intangibles, then the filer must attach a

SDAT

description, an explanation of the method of valuation, and enter the amount of consideration attributable to that asset. ITEM 9 - GROSS VALUE OF REAL PROPERTY ENTITY LISTED IN ITEM 8: The information requested here is the total value of all assets listed in item 8. This amount should be reported without any reduction for a mortgage or other security interest, unsecured debt, or other liability. ITEM 10 - REAL PROPERTY IN MARYLAND DIRECTLY OR BENEFICIALLY OWNED BY THE REAL PROPERTY ENTITY: Each real property parcel included in the transfer of the controlling interest must be separately identified. The information requested on the building/improvements should be a brief description of the actual buildings or type of improvements located on the property (e.g., a 100,000 square foot office building or a three story parking garage). If the record title holder of the parcel is different than the Real Property Entity reported in Item 3 of this form, then the record title holder should be reported here. The consideration attributable to the real property parcel should be that portion of the total consideration allocable to the parcel without reduction for mortgages or other encumbrances. ITEM 11 - SPECIFY AND EXPLAIN ANY EXEMPTIONS CLAIMED: The filer must indicate and briefly explain any exemptions claimed under Tax-Property Article, § 12-117(c). ITEM 12 - TRANSFER AND RECORDATION TAXES BEING PAID WITH THIS FILING: The amounts of recordation and transfer taxes being paid with this filing are reported here. Click on this link for a listing of the applicable county and State recordation and transfer tax rates. The State transfer tax rate is one- half of one percent (.5%) Fill in the individual Item amounts to perform the necessary mathematical calculation to determine the final amount subject to the recordation and transfer tax rates. The calculation is the ratio of the amount in Item 7 (Total consideration) over the amount in Item 9 (Gross value) multiplied by the amount in Item 8a (Maryland real property) and that result is multiplied by the applicable county and State tax rates. ITEM 13 - OATH: This form is being submitted under the penalties of perjury by the filer. ITEM 14 - CONTACT INFORMATION FOR THIS FILING: The Department needs a specific contact person in the event that there are subsequent questions about the filing. Item 14 will not be imaged and not be made part of the public documents viewable on the Department's web site.