Not so fast. You most certainly will
have problems with this if you transfer a handgun directly to another Free Stater (haw!)
Maryland does not regulate the sale of rifles or shotguns and no permit is required to purchase a rifle or shotgun. Maryland does regulate the sale, transfer, rent and possession of regulated firearms, which consist of handguns and assault weapons. A person who is not a regulated firearms dealer may not sell, rent, transfer, or purchase any regulated firearm without going through a regulated firearms dealer. Alternatively, the prospective seller/transferor and prospective buyer/transferee may complete the transaction through a designated law enforcement agency.
If the NRA-ILA's summary, above, is accurate, neither of you may transfer a handgun to each other, absent the services of an FFL, who will do the 4473, background check, etc., on both pistols, and charge you for his time on both transfers.