Skip to main content
Find a Lawyer

Maryland Code, Natural Resources § 8-720

Current as of January 01, 2025 | Updated by Findlaw Staff

(a) If ownership of a vessel is transferred by operation of law, such as by inheritance, order in bankruptcy, insolvency, replevin, or execution sale, the transferee, within 30 days after the transferee has acquired the right to possession of the vessel by operation of law, shall mail or deliver to the Department satisfactory proof of the transferee's ownership as the Department requires, together with his application for a new certificate of title, and the required fee. A title tax is not required on these transactions.

(b)(1) The Department may transfer on its records the ownership of a vessel that has been repossessed by a secured party, if the secured party pays the fee required for transfer of a title and submits to the Department a certification that states:

(i) That the secured party has a security interest in the vessel;

(ii) That, on the basis of the security agreement or other lawful basis, the secured party has a right to the possession of and title to the vessel;

(iii) That the secured party has possession of the vessel; and

(iv) Any other information that the Department requires.

(2) A secured party that repossesses a vessel is not required to pay the title tax.

(3) On submission of the certification to it, the Department may issue a new certificate of title if it is satisfied that the secured party is entitled to one.

Previous Part of Code Next Part of Code
Back to Chapter List

Cite this article: FindLaw.com - Maryland Code, Natural Resources § 8-720 - last updated January 01, 2025 | https://codes.findlaw.com/md/natural-resources/md-code-nat-res-sect-8-720/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

Was this helpful?

Welcome to FindLaw's Cases & Codes

A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.

Go to Learn About the Law

Latest Blog Posts

For Legal Professionals

Learn About The Law

Get help with your legal needs

FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.

Go to Learn About the Law

Need to Find an Attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)

Copied to clipboard