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The Annotated Code of the Public General Laws of Maryland, 1924
Volume 375, Page 2206   View pdf image (33K)
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2206 ARTICLE 66.

import, authorizing a sale, and made by a person other than the mortgagee,
his successors or assigns, or his or their executors or administrators and
by a person subsequently to default nominated and appointed by the mort-
gagee or his successor or his assigns, or his executors or administrators or
their assigns, by power of attorney as the person to make said sale by
virtue of the authority supposed to be contained in said mortgage, and by
virtue of authority supposed to be conferred by section 5 of article 64 of
the code of public general laws of .1860, now embodied in section 6 of this
article, and which said sale has been duly reported to the court having
jurisdiction in such cases and by said court after order nisi, and due pub-
lication thereof or other proper legal proceeding finally ratified and con-
firmed is hereby made valid and effectual to all intents and purposes as
fully as if the, person so making said sale had been named in said mort-
gage as the person to make said sale or to execute said power of sale; and
this section shall apply to all cases whether the person making said sale
was named by a mortgagee being a natural person or by a mortgagee being
a body corporate.

This section is constitutional and covers a case pending at time of its passage.

It applies to a sale made in 1872 under a power of sale contained in a mortgage to
a corporation, the power being conferred upon the " solicitor" of corporation.
Madigan v. Workingmen's Bldg. Assn , 73 Md. 319. And see Stump v. Warfield,
104 Md. 548

An. Code, sec. 24. 1904, sec. 24. 1892, ch. 111, sec. 24.

24. If upon the sale of the whole mortgaged property by virtue, of
a power of sale contained in the mortgage under the provisions of this arti-
cle, the net proceeds thereof, after the costs and expenses allowed by the
court are satisfied, shall not suffice to pay the mortgage debt and accrues
interest as the same shall be found and determined by the judgment of the
court upon the report of the auditor thereof, the court may, upon the
motion of the plaintiff, the mortgagee or his legal or equitable assignee, I
after due notice by summons or otherwise as the court may direct, enter a
decree in personam against the mortgagor or other party to the suit or pro-
ceeding who is liable for the payment thereof for the amount of such
deficiency; provided, the mortgagee or his legal or equitable assignee
would be entitled to maintain an action at law upon the covenants con-
tained in the mortgage for said residue of said mortgage debt so remain-
ing unpaid and unsatisfied by the proceeds of such sale or sales, which
decree shall have the same effect and be a lien as in the case of a judgment
at law and may be enforced only in like manner bv a writ of execution
in the nature of a writ of fieri facias or by attachment or otherwise.

See sec. 33.

See art. 16, sec. 232.

An. Code, sec. 25. 1904, sec. 25 1892, ch. 392, sec. 25. 1910, ch. 719 (p. 202).

25. The title to all promissory notes and other instruments hereafter

made, and debts hereafter contracted, secured by mortgage or deeds in the

nature of a mortgage, shall both before and after the maturity of such

notes, other instruments or debts, be conclusively presumed to be vested

 

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The Annotated Code of the Public General Laws of Maryland, 1924
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