(A) The first $50,000 of consideration payable for an instrument of writing for the transfer of owner-occupied real property is exempt from the transfer tax as defined in this subchapter.
(B) Exemption set forth by this provision shall require, in addition to the instrument of writing, a statement under oath signed by each grantee or an agent of the grantee, as set forth in the provisions of Md. Code, Tax Property Article, § 13-409.
(C) For the purpose of this exemption, OWNER-OCCUPIED PROPERTY shall mean property that is owner-occupied and the owner intends to use the property as a principal residence, occupying it for at least seven out of 12 months each year.
(1986 Code, § 263-24) (Ord. —, passed 6-15-1993; Am. by Res. 2015-6, passed 7-1-2015)