reglab/statecodes huggingface dataset:
2023 Maryland Statutes › Real Property › Title 7 - Mortgages, Deeds of Trust, and Vendor's Liens › Subtitle 1 - Mortgages and Deeds of Trust › Section 7-104 - Priority of Purchase-Money Mortgage or Deed of Trust

If property is sold and granted, and as part of the same transaction the purchaser gives a mortgage or deed of trust to secure total or partial payment of the purchase money, the mortgage or deed of trust shall be preferred to any previous judgment or decree for the payment of money which is obtained against the purchaser if it recites that the sum received is all or part of the purchase money of the property or otherwise recites that it is a purchase money mortgage or deed of trust. This section is applicable regardless of whether the mortgage or deed of trust is given to the vendor of the property or to a third party who advances all or part of the purchase money.
2023 Maryland Statutes › Real Property › Title 7 - Mortgages, Deeds of Trust, and Vendor's Liens › Subtitle 1 - Mortgages and Deeds of Trust › Section 7-105 - Sales

(a)    In this section, “individual” means a natural person.
(b)    (1)    A mortgage or deed of trust may authorize the sale of the property or declare the borrower’s assent to the passing of a decree for the sale of the property, on default in a condition on which the mortgage or deed of trust provides that a sale may be made.
(2)    A power of sale or assent to decree authorized in a mortgage or deed of trust may be exercised only by an individual.
(3)    The individual selling the property under a power of sale need not be named in the mortgage or deed of trust.
(4)    An error or omission in a mortgage or deed of trust concerning the designation of the trustee or the individual authorized to exercise a power of sale does not invalidate the instrument or the ability of the mortgagee or beneficiary of the deed of trust to appoint an individual to exercise the power of sale.
(5)    If a mortgage or deed of trust allows for the appointment or substitution of a trustee or an individual authorized to exercise a power of sale, the holder of the mortgage or deed of trust may make the appointments or substitutions from time to time.
(c)    A sale made pursuant to this section, §§ 7–105.1 through 7–105.10 of this subtitle, or the Maryland Rules, after final ratification by the court and grant of the property to the purchaser on payment of the purchase money, has the same effect as if the sale and grant were made under decree between the proper parties in relation to the mortgage or deed of trust and in the usual course of the court, and operates to pass all the title which the borrower had in the property at the time of the recording of the mortgage or deed of trust.
2023 Maryland Statutes › Real Property › Title 7 - Mortgages, Deeds of Trust, and Vendor's Liens › Subtitle 1 - Mortgages and Deeds of Trust › Section 7-105.2 - Notice of Foreclosure -- Procedure

(a)    (1)    In this section the following words have the meanings indicated.
(2)    “Foreclosed Property Registry” means the Foreclosed Property Registry established by the Commissioner of Financial Regulation under § 7–105.14 of this subtitle.
(3)    “Local jurisdiction” means:
(i)    A county; or
(ii)    A municipal corporation.
(4)    “Notice of foreclosure” means the notice described in subsection (b) of this section.
(5)    “Person authorized to make the sale” means the person designated under the Maryland Rules to sell residential property subject to foreclosure.
(6)    “Residential property” means real property improved by four or fewer dwelling units that are designed principally and are intended for human habitation.
(b)    (1)    Within 7 days of the filing of an order to docket or a complaint to foreclose a mortgage or deed of trust on a residential property by a person authorized to make the sale of the residential property, the person authorized to make the sale shall provide the Commissioner of Financial Regulation with a notice of foreclosure as required under this subsection.
(2)    The notice of foreclosure shall:
(i)    Be in the form the Commissioner of Financial Regulation requires, which may be the form of a registration with the Foreclosed Property Registry; and
(ii)    Contain the following information regarding the property that is subject to foreclosure:
1.    The street address;
2.    The tax account number, if known;
3.    Whether the property is vacant, if known;
4.    The name, address, and telephone number of the owner or owners of the property, if known;
5.    The name, address, and telephone number of the person authorized to make the sale; and
6.    The name, address, and telephone number of a person authorized to manage and maintain the property before the foreclosure sale, if known.
(c)    (1)    A notice of foreclosure:
(i)    Is not a public record as defined in § 4–101 of the General Provisions Article; and
(ii)    Is not subject to Title 4 of the General Provisions Article.
(2)    The Commissioner of Financial Regulation may authorize access to a notice of foreclosure only to local jurisdictions, the agencies of local jurisdictions, and representatives of State agencies.
(3)    Notwithstanding paragraphs (1) and (2) of this subsection, the Commissioner of Financial Regulation or a local jurisdiction may provide information for a specific property described in a notice of foreclosure to:
(i)    A person who owns property on the same block; or
(ii)    A homeowners association or condominium in which the property is located.
2023 Maryland Statutes › Real Property › Title 7 - Mortgages, Deeds of Trust, and Vendor's Liens › Subtitle 1 - Mortgages and Deeds of Trust › Section 7-105.3 - Notice and Disclosure Requirements for Foreclosure Sales

(a)    In addition to any other foreclosure requirements under the law, after the commencement of an action to foreclose a lien on real property and before making a sale of the property subject to the lien, the person authorized to make the sale shall notify the county or municipal corporation where the property subject to the lien is located, not less than 15 days prior to sale, of:
(1)    The name, address, and telephone number of the person authorized to make the sale; and
(2)    The time, place, and terms of sale.
(b)    A county or municipal corporation that receives the notice described under subsection (a) of this section shall notify the person authorized to make the sale of any outstanding liens, charges, taxes, or assessments that the county or municipal corporation has against the property not more than 10 days after receiving the notice of sale.
2023 Maryland Statutes › Real Property › Title 7 - Mortgages, Deeds of Trust, and Vendor's Liens › Subtitle 1 - Mortgages and Deeds of Trust › Section 7-105.4 - Notice to Record Owner of Property of Proposed Foreclosure Sale; Limitation of Actions

(a)    In this section, “record owner” means the person holding record title to property as of the later of:
(1)    30 days before the day on which a foreclosure sale of the property is actually held; and
(2)    The date on which an action to foreclose the mortgage or deed of trust is filed.
(b)    In addition to any notice required to be given by provisions of the Annotated Code of Maryland or the Maryland Rules, the person authorized to make a sale in an action to foreclose a mortgage or deed of trust shall give written notice of the proposed sale to:
(1)    The record owner of the property to be sold; and
(2)    A condominium or homeowners association that, at least 30 days before the date of the proposed sale, has recorded a statement of lien against the property under the Maryland Contract Lien Act.
(c)    (1)    The written notice shall be sent:
(i)    By certified mail, postage prepaid, return receipt requested, bearing a postmark from the United States Postal Service, to the record owner and, if applicable, to a condominium or homeowners association at the address shown on the statement of lien; and
(ii)    By first–class mail.
(2)    The notice shall state the time, place, and terms of the sale and shall be sent not earlier than 30 days and not later than 10 days before the date of sale.
(3)    The person giving the notice shall file in the proceedings:
(i)    A return receipt; or
(ii)    An affidavit that:
1.    The provisions of this subsection have been complied with; or
2.    The address of the record owner is not reasonably ascertainable.
(4)    The person authorized to make a sale in an action to foreclose a mortgage or deed of trust is not required to give notice to a record owner whose address is not reasonably ascertainable.
(d)    In the event of postponement or cancellation of the sale, which may be done in the discretion of the trustee, the trustee shall, within 14 days after the postponement or cancellation, send a notice that the sale was postponed or canceled to the record owner and, if applicable, to a condominium or homeowners association to which notice of the proposed sale was sent under subsection (c) of this section, by first–class mail, postage prepaid.
(e)    The right of a record owner to file an action for the failure of the person authorized to make a sale in an action to foreclose a mortgage or deed of trust to comply with the provisions of this section shall expire 3 years after the date of the order ratifying the foreclosure sale.
2023 Maryland Statutes › Real Property › Title 7 - Mortgages, Deeds of Trust, and Vendor's Liens › Subtitle 1 - Mortgages and Deeds of Trust › Section 7-105.6 - Interest Payable After Sale in Certain Counties

(a)    Absent a provision to the contrary in a mortgage or note secured by a deed of trust, in the enumerated counties, the interest provided in a mortgage or note secured by a deed of trust is payable for the time period provided in subsection (b) of this section or until the audit of the sale is ratified, whichever occurs first.
(b)    Under subsection (a) of this section, the time period following sale is:
(1)    60 days in Calvert, Cecil, Frederick, Garrett, Kent, Queen Anne’s, Talbot, Caroline, Charles, and St. Mary’s counties; and
(2)    180 days in Worcester County.
2023 Maryland Statutes › Real Property › Title 7 - Mortgages, Deeds of Trust, and Vendor's Liens › Subtitle 1 - Mortgages and Deeds of Trust › Section 7-105.7 - Secured Party May Purchase at Sale

No title to property acquired at sale of property subject to a mortgage or deed of trust is invalid by reason of the fact that the property was purchased by the secured party, his assignee, or representative, or for his account.
2023 Maryland Statutes › Real Property › Title 7 - Mortgages, Deeds of Trust, and Vendor's Liens › Subtitle 1 - Mortgages and Deeds of Trust › Section 7-105.9 - Effect of Foreclosure on Annual Crops

(a)    Except as provided in this section, unless the mortgage or deed of trust provides otherwise, if any property is encumbered by a mortgage or deed of trust, annual crops planted or cultivated by any debtor or those claiming under him do not pass with the property at any sale under or by virtue of the mortgage or deed of trust, but the crops remain the property of the debtor or those claiming under him.
(b)    (1)    Notwithstanding the provisions of subsection (a) of this section, after the sale, the debtor or those claiming under him and the purchaser or those claiming under him may agree on a reasonable rental of the part of the property occupied by the crops.
(2)    This rental is a lien on the crops and continues until paid in favor of the purchaser or those claiming under him, and neither the crops nor any part of them may be removed until after payment.
(3)    If the parties are unable to agree on the rental, any party in interest may apply to the court having jurisdiction over the sale or the confirmation of it for the appointment of disinterested appraisers to determine the rental, whose award shall be final.
(c)    (1)    In addition to any other remedy, the purchaser or those claiming under him, on ascertainment of the rent, may distrain for the rent or any part of it remaining due, as in the case of landlord and tenant.
(2)    No provision of this section is intended to interfere with the right of the purchaser or those claiming under him to have possession of the property, except as to the part occupied by the crop, with necessary ingress or egress.
2023 Maryland Statutes › Real Property › Title 7 - Mortgages, Deeds of Trust, and Vendor's Liens › Subtitle 1 - Mortgages and Deeds of Trust › Section 7-105.10 - Effect of Order for Resale on Default

The entry of an order for resale on default by a purchaser at a sale under §§ 7–105 through 7–105.9 of this subtitle and Title 14 of the Maryland Rules:
(1)    Does not affect the prior ratification of the sale and does not restore to the mortgagor or former record owner any right or remedy that was extinguished by the prior sale and its ratification; and
(2)    Extinguishes all interest of the defaulting purchaser in the real property being foreclosed and in the proceeds of the resale.
2023 Maryland Statutes › Real Property › Title 7 - Mortgages, Deeds of Trust, and Vendor's Liens › Subtitle 1 - Mortgages and Deeds of Trust › Section 7-105.12 - Right to Collect Rent From Bona Fide Tenant in Possession

(a)    (1)    In this section the following words have the meanings indicated.
(2)    “Bona fide tenant” means a tenant under a lease or tenancy described in § 7–105.8(b)(1) of this subtitle.
(3)    “Foreclosure sale purchaser” means any purchaser at a foreclosure sale of a mortgage or deed of trust on residential property.
(4)    “Residential property” has the meaning stated in § 7–105.1(a)(12) of this subtitle.
(b)    A foreclosure sale purchaser may not exercise any right to collect rent payments from a bona fide tenant in possession of a residential property unless the purchaser:
(1)    Conducts a reasonable inquiry as required under Maryland Rule 14–102 into:
(i)    The occupancy status of the residential property; and
(ii)    Whether any individual in possession of the residential property is a bona fide tenant; and
(2)    Serves on each bona fide tenant, by first–class mail with a certificate of mailing a notice that:
(i)    Contains the name, address, and phone number of the purchaser or the agent of the purchaser who is responsible for managing and maintaining the residential property; and
(ii)    States that rent payments must be directed to the purchaser or the agent identified in item (i) of this item.
(c)    (1)    Except as provided in paragraph (2) of this subsection, a foreclosure sale purchaser waives any claim to rent payments from a bona fide tenant in possession of a residential property for any period of time before the purchaser satisfies the requirements under subsection (b) of this section.
(2)    A foreclosure sale purchaser does not waive any claim to rent due and payable for use of the residential property for the 15 days immediately prior to the date that the purchaser satisfied the requirements under subsection (b) of this section.
2023 Maryland Statutes › Real Property › Title 7 - Mortgages, Deeds of Trust, and Vendor's Liens › Subtitle 1 - Mortgages and Deeds of Trust › Section 7-105.15 - Foreclosure -- Legislative Powers Regarding Notice or Regulations

(a)    Except as provided in subsection (b) of this section, only the State may enact a law requiring a notice to be filed with a unit of government to register residential properties that are subject to foreclosure.
(b)    This section does not restrict or otherwise affect the ability of a unit of government to require a registration or notice to be filed for a purpose other than one relating to foreclosure, even if a property to be identified in the registration or notice is subject to foreclosure.
2023 Maryland Statutes › Real Property › Title 7 - Mortgages, Deeds of Trust, and Vendor's Liens › Subtitle 1 - Mortgages and Deeds of Trust › Section 7-105.16 - Foreclosure Sale of Residential Property

(a)    (1)    In this section the following words have the meanings indicated.
(2)    “Instrument of writing” has the meaning stated in § 12–101 of the Tax – Property Article.
(3)    (i)    “Residential property” means real property improved by a dwelling unit that is designed principally and is intended for human habitation.
(ii)    “Residential property” includes:
1.    A residential condominium unit; and
2.    A unit in a cooperative project, as defined in § 5–6B–01 of the Corporations and Associations Article.
(4)    “Tax” has the meaning stated in § 14–801 of the Tax – Property Article.
(b)    Except as provided in subsection (c) of this section, if residential property is purchased at a sale in an action to foreclose a mortgage or deed of trust on the residential property, the purchaser shall provide a copy of the court order ratifying the foreclosure sale to the supervisor of assessments for the county in which the residential property is located by the later of:
(1)    60 days after the entry of the court order ratifying the foreclosure sale; or
(2)    If a motion is filed under Maryland Rule 2–535 before the expiration of the time period set forth in item (1) of this subsection, 30 days after the entry of a court order that resolves the motion without nullifying the ratification order.
(c)    Subsection (b) of this section does not apply if:
(1)    An instrument of writing transferring the residential property has been recorded in the land records of the county in which the residential property is located before the expiration of the time period set forth in subsection (b) of this section; or
(2)    The foreclosure sale is subject to:
(i)    A pending appeal of the ratification order;
(ii)    A bankruptcy stay; or
(iii)    An unexpired right of redemption in favor of the United States or any agency or department of the United States.
(d)    The supervisor of assessments shall provide a receipt to the person providing a copy of the ratification order.
(e)    If a copy of the ratification order is not provided to the supervisor of assessments as required under subsection (b) of this section, any reduction in property tax received by the residential property because of its status as an owner–occupied principal residence from the date of the entry of the ratification order until the earlier of the receipt by the supervisor of assessments of a copy of the ratification order or the recordation in the land records of an instrument of writing transferring the property to a third party shall remain due and collectable as a property tax under Title 14 of the Tax – Property Article.
2023 Maryland Statutes › Real Property › Title 7 - Mortgages, Deeds of Trust, and Vendor's Liens › Subtitle 1 - Mortgages and Deeds of Trust › Section 7-105.17 - Motion for Deficiency Judgment

(a)    (1)    In this section the following words have the meanings indicated.
(2)    “Owner–occupied residential property” has the meaning stated in § 7–105.1 of this subtitle.
(3)    “Residential property” has the meaning stated in § 7–105.1 of this subtitle.
(b)    This section applies to residential property that was owner–occupied residential property at the time an order to docket or complaint to foreclose was filed.
(c)    After the final ratification of the auditor’s report following a sale made in accordance with §§ 7–105.1 through 7–105.10 of this subtitle or the Maryland Rules, a secured party or an appropriate party in interest may file a motion for a deficiency judgment if the proceeds of the sale, after deducting all costs and expenses allowed by the court, are insufficient to satisfy the debt and accrued interest.
(d)    A motion for deficiency judgment under this section shall be filed within 3 years after the final ratification of the auditor’s report.
(e)    The secured party or party in interest shall serve the motion in accordance with the Maryland Rules.
(f)    The filing of a motion for deficiency judgment in accordance with this section and the Maryland Rules shall constitute the sole post–ratification remedy available to a secured party or party in interest for breach of a covenant contained in a deed of trust, mortgage, or promissory note that secures or is secured by owner–occupied residential property.
2023 Maryland Statutes › Real Property › Title 7 - Mortgages, Deeds of Trust, and Vendor's Liens › Subtitle 1 - Mortgages and Deeds of Trust › Section 7-107 - Payment of Property Taxes by Lender

(a)    In the case of a mortgage or a deed of trust in which the lender assumes responsibility to the borrower to pay the property taxes on the mortgaged property by the collection of taxes through an expense account arrangement, the lender shall pay the taxes within 45 days after (1) the first due date, (2) receipt of the tax bill by the lender, or (3) the funds collected by the lender are sufficient to pay the amount of taxes and interest due, whichever occurs last.
(b)    If a lender has sufficient funds available to pay the taxes, has received a copy of the tax bill, and fails to pay at the time as provided in this section, the lender shall pay the difference between the amount of taxes, interest, and penalty due if paid at the time as provided and the amount of taxes, interest, and penalty due at the time that the taxes, interest, and penalty are actually paid by the lender.
2023 Maryland Statutes › Real Property › Title 7 - Mortgages, Deeds of Trust, and Vendor's Liens › Subtitle 1 - Mortgages and Deeds of Trust › Section 7-108 - Incorporation by Reference

Any person may record among the land records of any county an unexecuted declaration of provisions, covenants, and conditions, and any mortgage or deed of trust thereafter recorded among the land records of the county where the declaration is recorded may incorporate any provision, covenant, or condition of the declaration into the mortgage or deed of trust by specific reference to it and to the liber and folio of the declaration, if the intention to incorporate by reference is shown clearly, and the mortgagor or grantor is furnished a copy of the declaration when the mortgage or deed of trust is executed.
2023 Maryland Statutes › Real Property › Title 7 - Mortgages, Deeds of Trust, and Vendor's Liens › Subtitle 1 - Mortgages and Deeds of Trust › Section 7-109 - Lenders Required to Disburse Certain Purchase Money Loans at Closing

(a)    (1)    In this section the following words have the meanings indicated.
(2)    “Affiliate” means any association, corporation, business trust, statutory trust, or other similar organization that controls, is controlled by, or is under common control with, a financial institution, as defined in § 1–101 of the Financial Institutions Article.
(3)    “Settlement” means the process of executing and delivering to the lender or the agent responsible for settlement, legally binding documents evidencing or securing a loan secured by a deed of trust or mortgage encumbering real property in this State.
(b)    (1)    In any consumer loan transaction in which the loan is secured by a purchase money mortgage or deed of trust on real property located in this State, on or before the day of settlement, the lender shall disburse the loan proceeds in accordance with the loan documents to the agent responsible for settlement as provided in subsections (c) and (d) of this section.
(2)    In any consumer loan transaction in which the loan is secured by a secondary deed of trust or mortgage on real property located in this State, on or before the day of funding the agent responsible for settlement may require the lender to disburse the loan proceeds as provided in paragraph (1) of this subsection.
(c)    Except as provided in subsection (d) of this section, the lender shall disburse the loan proceeds in the form of:
(1)    Cash;
(2)    Wired funds;
(3)    A certified check;
(4)    A check issued by a political subdivision or on behalf of a governmental entity;
(5)    A teller’s check issued by a depository institution and drawn on another depository institution; or
(6)    A cashier’s check.
(d)    In addition to the methods of loan disbursement provided in subsection (c) of this section, the loan proceeds may be disbursed in the form of a check drawn on a financial institution insured by the Federal Deposit Insurance Corporation and located in the 5th Federal Reserve District if the lender is:
(1)    An affiliate or subsidiary of a financial institution insured by the Federal Deposit Insurance Corporation or the National Credit Union Administration Share Insurance Program; or
(2)    A mortgage company approved by the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation.
(e)    If a loan subject to this section is not disbursed as provided in subsection (c) of this section, the lender may not charge interest on the loan for the first 30 days following the date of closing.
2023 Maryland Statutes › Real Property › Title 7 - Mortgages, Deeds of Trust, and Vendor's Liens › Subtitle 1 - Mortgages and Deeds of Trust › Section 7-110 - Priority of Certain Interests Transferred by Savings and Loan Associations to Government Agencies or Instrumentalities

(a)    Notwithstanding any other provision of law, including this title, any grant of a security interest in or assignment of a mortgage to any State or federal government agency or instrumentality, including the Maryland Deposit Insurance Fund Corporation, a federal reserve bank, or a federal home loan bank, by any savings and loan association is fully perfected and takes priority to the extent of the association’s interest in the mortgage over all other claims and creditors with respect to any such mortgage in the possession or control of that State or federal government agency or instrumentality.
(b)    The State or federal government agency or instrumentality receiving a grant of a security interest in or assignment of a mortgage by a savings and loan association pursuant to subsection (a) of this section shall give prompt notification thereof to the State or federal agency that issued the charter to the association.
2023 Maryland Statutes › Real Property › Title 7 - Mortgages, Deeds of Trust, and Vendor's Liens › Subtitle 1 - Mortgages and Deeds of Trust › Section 7-111 - Effect of Changes or Modifications to Existing Mortgages or Deeds of Trust on Priority of Liens

(a)    Subject to subsection (b) of this section, any change or modification to a mortgage or deed of trust or to an obligation secured by a mortgage or deed of trust does not extinguish the existing lien of the mortgage or deed of trust or otherwise adversely affect the existing lien priority of the mortgage or deed of trust.
(b)    If the change or modification to a mortgage or deed of trust or to an obligation secured by a mortgage or deed of trust increases the principal sum secured by the mortgage or deed of trust above the amount appearing on the face of the mortgage or deed of trust and expressed to be secured by it:
(1)    The existing lien priority of the original mortgage or deed of trust shall continue as to the principal sum secured by the mortgage or deed of trust immediately preceding the change or modification; and
(2)    The lien priority for the increase in the principal sum shall date from the date of the changed or modified mortgage or deed of trust.
2023 Maryland Statutes › Real Property › Title 7 - Mortgages, Deeds of Trust, and Vendor's Liens › Subtitle 2 - Vendor's Liens › Section 7-201 - Sum Due and Time for Payment Must Appear on Face of Instrument; Certain Mortgages and Landlord's Lien Not Affected

If any property is granted, and the purchase money, or any part of it, remains unpaid at the time of the grant, the vendor may not have a lien or charge on the property for any other sum of money than the sum that appears to be due on the face of the deed. The time set for payment shall be specified and recited in the deed. No provision in this section may be construed to affect any mortgage or deed of trust given by a purchaser to secure the payment of all or any part of the purchase money, or in any way affect or postpone the lien of any landlord on goods or chattels for the satisfaction or security of rent due or accruing.
2023 Maryland Statutes › Real Property › Title 7 - Mortgages, Deeds of Trust, and Vendor's Liens › Subtitle 2 - Vendor's Liens › Section 7-202 - Power of Sale; Court of Equity May Decree Sale

The provisions of § 7–105 also are applicable to instruments reserving a valid vendor’s lien, to sales pursuant to a reserved vendor’s lien, and to sales pursuant to the vendor’s authority to sell. A court of equity may decree a sale to enforce a vendor’s lien or any other equitable lien although the lienor may have an adequate remedy at law.
2023 Maryland Statutes › Real Property › Title 7 - Mortgages, Deeds of Trust, and Vendor's Liens › Subtitle 2 - Vendor's Liens › Section 7-203 - Payment of Notes

Any deed retaining a valid vendor’s lien may provide that in the event of a sale, any note or other instrument of indebtedness mentioned in the deed shall be paid and satisfied in full in the order of maturity. However, if any note or instrument of indebtedness is paid or satisfied, no further proceedings may be had in reference to or satisfaction of it, but the funds arising from the sale shall be distributed as if the note already paid or satisfied had never been given. If the lien is duly released of record after the date of the maturity of the note or other instrument of indebtedness mentioned in the deed, the note or other instrument of indebtedness conclusively is presumed to have been paid as far as any lien on the property granted by the deed is concerned.
2023 Maryland Statutes › Real Property › Title 7 - Mortgages, Deeds of Trust, and Vendor's Liens › Subtitle 2 - Vendor's Liens › Section 7-204 - Assignment or Release of Lien

An assignment or release of a vendor’s lien may be made by the holder of the lien in the same manner prescribed for the short assignment or release of a mortgage. The holder of the lien also may write a release on the record in the office where the deed is recorded or the release may be endorsed on the original deed.
2023 Maryland Statutes › Real Property › Title 7 - Mortgages, Deeds of Trust, and Vendor's Liens › Subtitle 2 - Vendor's Liens › Section 7-205 - Acceptance of Guarantee or Collateral Does Not Waive Lien

The acceptance by the vendor of any guarantee, endorsement, collateral, or other security to insure the full payment of any vendor’s lien, may not be construed as a waiver of the lien. However, the purchaser shall be credited with the proceeds from the sale of any collateral or other securities.
2023 Maryland Statutes › Real Property › Title 7 - Mortgages, Deeds of Trust, and Vendor's Liens › Subtitle 3 - Protection of Homeowners in Foreclosure Act › Part II - Foreclosure Consultants › Section 7-305 - Rescission

(a)    In addition to any other right under law to cancel or rescind a contract, a homeowner has the right to rescind a foreclosure consulting contract at any time.
(b)    Rescission occurs when the homeowner gives written notice of rescission to the foreclosure consultant at the address specified in the contract or through any facsimile or electronic mail address identified in the contract or other materials provided to the homeowner by the foreclosure consultant.
(c)    Notice of rescission, if given by mail, is effective when deposited in the United States mail, properly addressed, with postage prepaid.
(d)    Notice of rescission need not be in the form provided with the contract and is effective, however expressed, if it indicates the intention of the homeowner to rescind the foreclosure consulting contract.
(e)    After the rescission of a foreclosure consulting contract, the homeowner shall repay, within 60 days from the date of rescission, any funds paid or advanced by the foreclosure consultant or anyone working with the foreclosure consultant under the terms of the foreclosure consulting contract, together with interest calculated at the rate of 8% a year.
(f)    The right to rescind may not be conditioned on the repayment of any funds.
2023 Maryland Statutes › Real Property › Title 7 - Mortgages, Deeds of Trust, and Vendor's Liens › Subtitle 3 - Protection of Homeowners in Foreclosure Act › Part II - Foreclosure Consultants › Section 7-307 - Prohibited Activities by Foreclosure Consultant

A foreclosure consultant may not:
(1)    Engage in, arrange, offer, promote, promise, solicit, participate in, assist with, or carry out a foreclosure rescue transaction;
(2)    Claim, demand, charge, collect, or receive any compensation until after the foreclosure consultant has fully performed each and every service the foreclosure consultant contracted to perform or represented that the foreclosure consultant would perform;
(3)    Claim, demand, charge, collect, or receive any interest or any other compensation for any loan that the foreclosure consultant makes to the homeowner that exceeds 8% a year;
(4)    Take any wage assignment, any lien of any type on real or personal property, or other security to secure the payment of compensation;
(5)    Receive any consideration from any third party in connection with foreclosure consulting services provided to a homeowner unless the consideration:
(i)    Is first fully disclosed in writing to the homeowner;
(ii)    Is clearly listed on any settlement documents; and
(iii)    Is not in violation of any provision of this subtitle;
(6)    Receive a commission, regardless of how described, for the sale of a residence in default that exceeds 8% of the sales price;
(7)    Receive any money to be held in escrow or on a contingent basis on behalf of the homeowner;
(8)    Acquire any interest, directly or indirectly, or by means of a subsidiary, affiliate, or corporation in which the foreclosure consultant or a member of the foreclosure consultant’s immediate family is a primary stockholder, in a residence in default from a homeowner with whom the foreclosure consultant has contracted;
(9)    Take any power of attorney from a homeowner for any purpose, except to inspect documents as provided by law; or
(10)    Induce or attempt to induce any homeowner to enter into a foreclosure consulting contract that does not comply in all respects with this subtitle.
2023 Maryland Statutes › Real Property › Title 7 - Mortgages, Deeds of Trust, and Vendor's Liens › Subtitle 3 - Protection of Homeowners in Foreclosure Act › Part II - Foreclosure Consultants › Section 7-308 - Foreclosure Consultant License

(a)    (1)    In this section the following words have the meanings indicated.
(2)    “License” has the meaning stated in § 17–101(g) of the Business Occupations and Professions Article.
(3)    “Provide real estate brokerage services” has the meaning stated in § 17–101(l) of the Business Occupations and Professions Article.
(b)    A foreclosure consultant who provides real estate brokerage services shall be licensed as required under Title 17 of the Business Occupations and Professions Article.
(c)    A foreclosure consultant shall present a copy of the license to a homeowner no later than the time a foreclosure consulting contract is executed.
2023 Maryland Statutes › Real Property › Title 7 - Mortgages, Deeds of Trust, and Vendor's Liens › Subtitle 3 - Protection of Homeowners in Foreclosure Act › Part II - Foreclosure Consultants › Section 7-309 - Duties

(a)    A foreclosure consultant has a duty to provide the homeowner with written copies of any research the foreclosure consultant has regarding the value of the homeowner’s residence in default, including any information on sales of comparable properties or any appraisals.
(b)    A foreclosure consultant owes the same duty of care to a homeowner as a licensed real estate broker owes to a client under § 17–532 of the Business Occupations and Professions Article.
2023 Maryland Statutes › Real Property › Title 7 - Mortgages, Deeds of Trust, and Vendor's Liens › Subtitle 3 - Protection of Homeowners in Foreclosure Act › Part III - Sales or Transfers of Residences in Default › Section 7-310 - Rescission of Contract

(a)    In addition to any other right under law to rescind a contract, the homeowner of a residence in default has the right to rescind a contract for the sale or transfer of the residence in default within 5 days after the execution of the contract.
(b)    Any provision in a contract or other agreement concerning a sale or transfer of a residence in default that attempts or purports to waive the homeowner’s rights under this title, consent to jurisdiction for litigation or choice of law in a state other than Maryland, consent to venue in a county other than the county in which the property is located, or impose any costs or filing fees greater than the fees required to file an action in a circuit court, is void.
(c)    Except when a primary mortgage lender takes a deed in lieu of foreclosure, a sale or transfer of a residence in default may not be executed using a quitclaim deed.
(d)    A notice of rescission under this section:
(1)    Shall be in writing but need not take any particular form specified in this subtitle or any form contained in any agreement with the purchaser or transferee; and
(2)    Is effective, however expressed, if it indicates the intention of the homeowner to rescind the contract.
(e)    The right to rescind may not be conditioned on the repayment of any funds, provided however that any debt existing prior to a rescission shall continue to exist.
(f)    Within 10 days after receipt of a notice of rescission, the purchaser or transferee shall return, without condition, any original deed, title, contract, and any other document signed by the homeowner.
(g)    During the 5–day rescission period, a deed or other document affecting title to the homeowner’s residence in default may not be recorded.
2023 Maryland Statutes › Real Property › Title 7 - Mortgages, Deeds of Trust, and Vendor's Liens › Subtitle 3 - Protection of Homeowners in Foreclosure Act › Part III - Sales or Transfers of Residences in Default › Section 7-312 - Obligations of Purchaser of Residence in Default

A purchaser of a residence in default may not:
(1)    Represent, directly or indirectly, that:
(i)    The purchaser is acting as an advisor or a consultant, or in any other manner represent that the purchaser is acting on behalf of the homeowner;
(ii)    The purchaser has certification or licensure that the purchaser does not have;
(iii)    The purchaser is assisting the homeowner to “save the house” or use a substantially similar phrase; or
(iv)    The purchaser is assisting the homeowner in preventing a foreclosure if the result of the transaction is that the homeowner will no longer own the property;
(2)    Make any other statements, directly or by implication, or engage in any other conduct that is false, deceptive, or misleading, or that has the likelihood to cause confusion or misunderstanding, including statements regarding the value of the residence in default, the amount of proceeds the homeowner will receive after a sale or transfer, any contract term, or the homeowner’s rights or obligations incident to or arising out of the sale or transfer; or
(3)    Until the homeowner’s right to rescind the transaction has expired:
(i)    Record any document, including an instrument of conveyance, signed by the homeowner; or
(ii)    Transfer or encumber or purport to transfer or encumber any interest in the residence in default to any third party.
2023 Maryland Statutes › Real Property › Title 7 - Mortgages, Deeds of Trust, and Vendor's Liens › Subtitle 3 - Protection of Homeowners in Foreclosure Act › Part III - Sales or Transfers of Residences in Default › Section 7-313 - Tenancy Agreement Included in Contract

(a)    (1)    If a tenancy agreement is included in a contract for the sale or transfer of a residence in default, the purchaser shall provide the homeowner with a document entitled “STATEMENT ABOUT TENANCY” at the time the contract is executed.
(2)    The document entitled “STATEMENT ABOUT TENANCY” shall:
(i)    Be on a separate sheet of paper attached to the contract for the sale or transfer of a residence in default;
(ii)    Be dated and personally signed by the homeowner and the purchaser and be witnessed and acknowledged by a notary public appointed and commissioned by the State;
(iii)    Contain a statement informing the homeowner of the homeowner’s right to a copy of a signed lease; and
(iv)    Contain the following statement printed in at least 15 point type:
“STATEMENT ABOUT TENANCY
(Date of Contract)
I agree to sell my home. I understand that I will no longer have an ownership interest in or any other right to own this property. Even though I may be able to live on the premises as a tenant, I will have no right to repurchase this property or to obtain any other kind of ownership interest. If I do not pay the rent as agreed, I may be subject to eviction. As a tenant, I am entitled to receive a written lease from the new owner of the property.”.
(b)    The purchaser shall provide the homeowner with a signed and dated copy of the document entitled “STATEMENT ABOUT TENANCY” immediately upon execution of the contract for the sale or transfer of the residence in default.
(c)    The time during which the homeowner may rescind the contract for the sale or transfer of a residence in default under § 7–310 of this subtitle does not begin to run until the purchaser has complied with this section.
2023 Maryland Statutes › Real Property › Title 7 - Mortgages, Deeds of Trust, and Vendor's Liens › Subtitle 3 - Protection of Homeowners in Foreclosure Act › Part IV - Foreclosure Surplus Purchasers › Section 7-315 - Rescission

(a)    In addition to any other right of rescission, a homeowner has the right to rescind any contract with a foreclosure surplus purchaser at any time within 10 days after the statement of audit account of the foreclosure sale.
(b)    (1)    Rescission occurs when the homeowner delivers, by any means, written Notice of Rescission to the address specified in the contract, with a copy to the auditor. As part of the rescission, the homeowner shall repay any consideration received directly or indirectly, together with interest calculated at the rate of 8% a year.
(2)    On receipt of the Notice of Rescission, the auditor shall restate the account. The repayment of consideration and interest by the homeowner shall be incorporated by the auditor into the revised statement of account filed with the court.
(3)    Upon ratification of the amended audit, the attorney named in the mortgage, mortgage assignee for purposes of foreclosure, trustee, or substitute trustee in making distribution of the surplus funds shall comply with the revised court–approved audit.
(c)    A Notice of Rescission given by a homeowner need not be in the form provided with the contract and is effective, however expressed, if it indicates the intention of the homeowner to rescind the contract.
(d)    The right to rescind may not be conditioned on the repayment of any funds.
(e)    Within 10 days after receipt of a Notice of Rescission given in accordance with this section, the foreclosure surplus purchaser shall return, without condition, the original contract and all other documents signed by the homeowner.
2023 Maryland Statutes › Real Property › Title 7 - Mortgages, Deeds of Trust, and Vendor's Liens › Subtitle 3 - Protection of Homeowners in Foreclosure Act › Part V - Prohibited Acts; Enforcement and Penalties › Section 7-318 - Waiver of Rights

(a)    A person may not induce or attempt to induce a homeowner to waive the homeowner’s rights under this subtitle.
(b)    Any waiver by a homeowner of the provisions of this subtitle is void and unenforceable as contrary to public policy.
2023 Maryland Statutes › Real Property › Title 7 - Mortgages, Deeds of Trust, and Vendor's Liens › Subtitle 3 - Protection of Homeowners in Foreclosure Act › Part V - Prohibited Acts; Enforcement and Penalties › Section 7-318.1 - Violations

It is a violation of this subtitle if a foreclosure consultant:
(1)    Fails to obtain a real estate broker’s license as required under § 7–308 of this subtitle; or
(2)    Violates any provision of Title 17 of the Business Occupations and Professions Article.
2023 Maryland Statutes › Real Property › Title 7 - Mortgages, Deeds of Trust, and Vendor's Liens › Subtitle 3 - Protection of Homeowners in Foreclosure Act › Part V - Prohibited Acts; Enforcement and Penalties › Section 7-319 - Enforcement

(a)    The Attorney General may seek an injunction to prohibit a person who has engaged or is engaging in a violation of this subtitle from engaging or continuing to engage in the violation.
(b)    The court may enter any order or judgment necessary to:
(1)    Prevent the use by a person of any prohibited practice;
(2)    Restore to a person any money or real or personal property acquired from the person by means of any prohibited practice; or
(3)    Appoint a receiver in case of willful violation of this subtitle.
(c)    In any action brought by the Attorney General under this section, the Attorney General is entitled to recover the costs of the action for the use of the State.
(d)    A violation of this subtitle is an unfair or deceptive trade practice within the meaning of Title 13 of the Commercial Law Article and is subject to the enforcement and penalty provisions contained in Title 13 of the Commercial Law Article.
2023 Maryland Statutes › Real Property › Title 7 - Mortgages, Deeds of Trust, and Vendor's Liens › Subtitle 3 - Protection of Homeowners in Foreclosure Act › Part V - Prohibited Acts; Enforcement and Penalties › Section 7-319.1 - Enforcement Powers of Commissioner

(a)    The Commissioner may enforce the provisions of this subtitle by exercising any of the powers provided under §§ 2–113 through 2–116 of the Financial Institutions Article.
(b)    (1)    The Commissioner may seek an injunction to prohibit a person who has engaged or is engaging in a violation of this subtitle from engaging or continuing to engage in the violation.
(2)    The court may enter any order or judgment necessary to:
(i)    Prevent the use by a person of any prohibited practice;
(ii)    Restore to a person any money or real or personal property acquired from the person by means of any prohibited practice; or
(iii)    Appoint a receiver in case of willful violation of this subtitle.
(3)    In any action brought by the Commissioner under this subsection, the Commissioner is entitled to recover the costs of the action for the use of the State.
(c)    The Commissioner may enforce the provisions of this subtitle by requiring a violator to take affirmative action to correct the violation including the restitution of money or property to any person aggrieved by the violation.
(d)    The Commissioner may:
(1)    Investigate violations of this subtitle; and
(2)    Aid any other unit of State government that has regulatory jurisdiction over the business activities of the violator.
(e)    The Commissioner may cooperate in the investigation and prosecution of any violation of this subtitle with the Office of the Attorney General, the State’s Attorney, or any other unit of law enforcement.
2023 Maryland Statutes › Real Property › Title 7 - Mortgages, Deeds of Trust, and Vendor's Liens › Subtitle 3 - Protection of Homeowners in Foreclosure Act › Part V - Prohibited Acts; Enforcement and Penalties › Section 7-320 - Action for Damages by Homeowner

(a)    (1)    In addition to any action by the Attorney General or the Commissioner authorized under this subtitle and any other action otherwise authorized by law, a homeowner may bring an action for damages incurred as the result of a practice prohibited by this subtitle.
(2)    A homeowner may bring an action for damages under this section:
(i)    Without having to exhaust administrative remedies under this subtitle; and
(ii)    Regardless of the status of an administrative action or a criminal prosecution, if any, under this subtitle.
(b)    A homeowner who brings an action under this section and who is awarded damages may also seek, and the court may award, reasonable attorney’s fees.
(c)    If the court finds that the defendant willfully or knowingly violated this subtitle, the court may award damages equal to three times the amount of actual damages.