Today I spoke with an executive from a title company that told me that right now there are so many real estate laws pending approval in Congress, that I need to know on a daily basis what laws have passed. When I told them I was considering purchasing a residential Maryland home and then assigning it to an investor, they said I should check out the laws in Maryland, but they wouldn't tell me how to do it. Has anyone had experience purchasing Maryland Real Estate that could give me some help on this. I was also told that I could be at risk of paying a new income tax on real estate in Maryland, as well as capital gains tax.
I guess I jut don't understand I thought if all I was trying to do was assign the property, why would I have to worry about rules,fees and taxes? Can someone explain this to me? I was almost ready to submit my first offer, but now I feel uneducated and I am having second thoughts. Thank you all for taking the time to help me.