Walter Stone has more than forty-five years of experience in handling complex real estate, corporate, and tax matters. Mr. Stone was admitted as a Certified Public Accountant in Maryland in 1965 and was associated with a public accounting firm prior to entering the practice of law in 1967.

Mr. Stone concentrates his practice in the areas of the acquisition, sale, development, and management of commercial real estate, as well as general business, corporate, and taxation law. Mr. Stone has been a frequent lecturer for Maryland Institute for Continuing Professional Education of Lawyers (MICPEL), Maryland State Bar Association, National Business Institute, and Lorman Educational Services, as well as for other professional associations and groups. He is AV Preeminent rated by Martindale-Hubbell, which is the highest rating for legal ability and professional ethics.

Practice Areas:

  • Business Group
  • Banking Group
  • Real Estate Group
  • Tax Group
  • Construction Law

Bar Admissions:

  • Maryland, 1967

Court Admissions:

  • United States District Court for the District of Maryland
  • United States Tax Court


  • L.L.B., University of Maryland, School of Law, 1967 (with honors)
  • Order of the Coif
  • Master of Laws in Taxation, Georgetown University Law Center, 1971
  • B.S., University of Maryland, 1963


  • 2007 Maryland Super Lawyers, Baltimore Magazine
  • 2007 Baltimore Legal Elite, Smart CEO Magazine

Walter R. Stone

Rated by Super Lawyers

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Professional and Civic Involvement:

  • Member, Bar Association of Baltimore City
  • Member, Maryland State Bar Association
  • Member, American Bar Association, Section of Taxation and Real Property, Probate and Trust

Publications and Lectures:

Maryland State Bar Association Mid-Year Meetings

  • Significant Tax Related Economic Developments, February, 2010
  • Recent Tax and Financial Developments in Connection with the Current Economy, February, 2009
  • Tax Considerations in Connection with the Disposition of Real Estate, February, 2008
  • Advance Planning for the Disposition of Real Estate – Certain Initial Considerations that Should be Investigated by the Owner of Real Estate, March, 2007
  • Key Points to Consider When Negotiating a Contract for the Purchase or Sale of Real Estate, February, 2006
  • Breaking Up is Still Hard to Do, March, 2005, presented with Andrew Radding, Esq.
  • Breaking Up is Hard to Do, February, 2004, presented with Jerald B. Lurie, Esq. and Andrew Radding, Esq.
  • Utilization of Family Limited Partnerships and Limited Liability Companies to Reduce Federal Estate and Gift Taxes, February, 2003

Lorman Educational Services

  • A Primer on S Corporations: Tax and Non-Tax Issues in Maryland, September, 2003 and September, 2004, presented with Brian J. O’Connor, Esq. and Neal H. Strum, Esq.
  • Nuts and Bolts of Payroll Administration and Taxes in Maryland, July, 2002 and July, 2003, presented with other professionals

Women’s Business Institute

  • Choice of Business Entity, October, 2002 and March, 2002

Mannes Greenberg Wednesday Tax Study Group

  • Multi-Level Discounts for Tiered Entities and Lack of Marketability Discounts for Wholly Owned Entities, February 2015
  • Certain Current Tax Revenue Proposals, 2013 Revenue Provisions of the Patient Protection and Affordable Care Act and 2012 Significant Maryland Tax Changes, June 2012
  • Selected Tax Considerations in Connection with the Disposition of Real Estate, December 2009

Prior to 2002, Mr. Stone had been a frequent lecturer for Maryland Institute for Continuing Professional Education (MICPEL) and National Business Institute

Representative Matters:

  • Represented a client in the rezoning and redevelopment of a substantial income-producing property into a development, which when completed will consist of over 1,000 residential units, retail and office space, and a hotel;
  • Represented owner of existing income-producing property in connection with possible redevelopment into a complex of approximately nine hundred residential units, which if successful, will result in a raw land value initially estimated to be in excess of $60 million;
  • Assisted client in the modification and 10-year extension of its existing in excess of $100 million loan portfolio, which was cross-collateralized by more than 25 separate properties located in eight different states;
  • Assisted client in the sale of two parcels of vacant land adjacent to client’s existing shopping center – one parcel being sold to a national retail user, which constructed a store in excess of 167,000 square feet, and the other to a developer for construction of a residential project;
  • Represented limited partnership in the restructuring of its lease for 300,000 square foot downtown Baltimore office building and thereafter refinancing its loan for the property;
  • Represented property owner in connection with reinvesting proceeds from tax-free exchange involving multiple properties located in three different states; involved in the management of family owned commercial real estate holdings throughout the East Coast;
  • Assisted client’s attorney in negotiating and drafting an agreement in connection with the sale and subdivision of approximately 100-acre farm in the Baltimore metropolitan area;
  • Negotiation and settlement of complex tax disputes with the Internal Revenue Service on numerous occasions;
  • Developed strategy and assisted client in connection with tax planning that resulted in deferral of potential multi-million dollar federal and state income tax liability;
  • Successfully prosecuted two separate specific performance claims against sellers of real property resulting in advantageous purchases of commercial real estate;
  • Represented client in sale of Fourteen Million Dollar manufacturing company and related tax planning;
  • Represented client in defeasance of multi-million dollar loan prior to its maturity;
  • Assisted client in resolving complex estate dispute including related tax planning;
  • Assisted commercial real estate company in acquisition of real property throughout the East Coast;
  • Represented client in negotiation and drafting of long term ground lease for multi-million dollar property in Western Maryland.