clear space clear space clear space white space
A
 r c h i v e s   o f   M a r y l a n d   O n l i n e

PLEASE NOTE: The searchable text below was computer generated and may contain typographical errors. Numerical typos are particularly troubling. Click “View pdf” to see the original document.

  Maryland State Archives | Index | Help | Search
search for:
clear space
white space
The Annotated Code of the Public General Laws of Maryland, 1924
Volume 375, Page 535   View pdf image (33K)
 Jump to  
  << PREVIOUS  NEXT >>
clear space clear space clear space white space

CHANCERY. 535

This section has no application to trustees appointed by will. Philbin v. Thurn,
103 Md. 346.

This section applies only to the suretyship of natural persons. Gans v. Carter,
77 Md. 9. And see Herzberg v. Warfield, 76 Md. 450.

Generally.

A deed of trust under this section comes within the general registration laws of
this state, and the place of record is governed accordingly. If the deed and bond
are recorded in the wrong place, the property is subject to attachment in the
hands of the trustee. Steifel v. Barton, 73 Md. 410 (decided prior to the act of
1892, ch. 241).

This section as amended by the act of 1892, ch. 241, held, not to be limited to
deeds of trust for the benefit of creditors, but applicable to deeds creating trusts
for the sale of property for any other purpose. Since the trustees failed to file a
bond as required by this section, no title passed to them, and consequently they
could convey none. This section is constitutional and valid; the legislature has
the right to change and adopt rules of evidence and alter remedies. Cases deal-
ing with this section reviewed. Cummings v. Wildman, 116 Md. 308 (decided
prior to the act of 1912, ch. 778).

Where property is attached between the date of the record of a deed of trust
and the filing of the bond under this section, the attachment is valid; contra if
the attachment is laid after the record of the deed and the filing of the bond.
White v. Pittsburg Bank, 80 Md. 5; Fidelity Co. v. Haines, 78 Md. 457. And see
Steifel v. Barton, 73 Md. 410.

The bond of a surety company authorized by an act amending its charter to
become sole surety, upheld under this section. Miller v. Matthews, 87 Md. 477;
Gans v. Carter, 77 Md. 7. And see Herzberg v. Warfield, 76 Md. 450.

Change made in this section by the act of 1900, ch. 114. This section referred
to in construing sec. 253—see notes thereto. Union Trust Co. v. Ward, 100 Md. 100.

For cases involving sec. 116 of art. 81 of the Code of 1860 (analogous in some
of its provisions to this section), see Sixth Ward Bldg. Assn. v. Willson, 41 Md.
512; Reeside v. Peter, 33 Md. 127; Withers v. Denmead, 22 Md. 146; Furlong v.
Edwards, 3 Md. 99.

An. Code, sec. 238. 1904, sec. 222. 1900, ch. 114, sec. 205A.

253. When any estate, real, personal or mixed shall be limited or con-
veyed to any trustee as security for debt, or to be sold upon a contingency,
it shall not be necessary for such trustee to file a bond until after the con-
tingency happens, or a sale is about to be made in pursuance of the power
contained in the deed or instrument creating the trust, and every such
trustee before making sale shall file with the clerk of the court in which
the deed or instrument creating the trust is recorded a bond in such
penalty as the clerk may prescribe, being as nearly as can be ascertained
double the amount of the trust estate, and with sureties to be approved
by the clerk, conditioned for the faithful performance of the trust reposed
in such trustee, which bond shall be retained and recorded in the office of the
said clerk, and shall report all sales made by him to the court of equity hav-
ing jurisdiction in the premises, in the same manner and subject to the
same rules as are required and prescribed in relation to sales made in
pursuance of decrees of courts of equity in this State; and no sale made
by any such trustee without such bond shall be valid or pass any title to
such property or estate. If the trust estate consists of real property, or of
real and personal property, situated partly in the county or city in which
the grantor resides, and partly in one or more other counties, it shall be
sufficient that a bond has been accepted and filed in the county of the
grantor's residence; if the trust estate consists entirely of real estate, in a
county or counties other than of the residence of the grantor, it shall be suffi-

 

clear space
clear space
white space

Please view image to verify text. To report an error, please contact us.
The Annotated Code of the Public General Laws of Maryland, 1924
Volume 375, Page 535   View pdf image (33K)
 Jump to  
  << PREVIOUS  NEXT >>


This web site is presented for reference purposes under the doctrine of fair use. When this material is used, in whole or in part, proper citation and credit must be attributed to the Maryland State Archives. PLEASE NOTE: The site may contain material from other sources which may be under copyright. Rights assessment, and full originating source citation, is the responsibility of the user.


Tell Us What You Think About the Maryland State Archives Website!



An Archives of Maryland electronic publication.
For information contact mdlegal@mdarchives.state.md.us.

©Copyright  October 06, 2023
Maryland State Archives