Md. Code Regs. 08.04.10.04

Current through Register Vol. 51, No. 12, June 14, 2024

Section 08.04.10.04 - Disposal Title

A. A lienor under Commercial Law Article, § 16-201 et seq., Annotated Code of Maryland, may apply for a title for purposes of disposal. Minimum vessel excise tax of $5 will be assessed.

B. Lienor must declare and affirm under penalty of perjury that lienor seeks title for purposes of removal and that the vessel will be destroyed within 90 days of issuance of disposal title.

C. Lienor must provide evidence that vessel has been destroyed.

D. Lienor accepts responsibility for the difference between the minimum vessel excise tax and tax on the total charges claimed in the mechanics lien transaction should the Department subsequently learn that vessel was not destroyed as required.

E. Vessel will be identified as "destroyed" in the permanent records of the Department.

Md. Code Regs. 08.04.10.04