Common use of Exemptions Clause in Contracts

Exemptions. The following are specifically excluded from the provisions of §10-702: 1. The initial sale of single family residential real property: A. that has never been occupied; or B. for which a certificate of occupancy has been issued within 1 year before the seller and buyer enter into a contract of sale; 2. A transfer that is exempt from the transfer tax under §13-207 of the Tax-Property Article, except land installment contracts of sales under §13-207(a) (11) of the Tax-Property Article and options to purchase real property under §13-207(a)(12) of the Tax-Property Article;