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Session Laws, 1910 Session
Volume 487, Page 203   View pdf image (33K)
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MORTGAGES. 203

be paid so far as any lien upon the property conveyed by said
mortgage or deed in the nature of a mortgage is concerned.
Approved April 8, 1910.

CHAPTER 216.

AN ACT to add additional sections to Article 66 of the Code
of Public General Laws of Maryland of 1904, title "Mort-
gages," to be numbered Sections 30, 31, 32, 33, 34, 35, 36 and
37. Abolishing the lien of vendors for unpaid purchase
money, unless the same be expressly and specifically retained
by the vendor, and providing for speedy enforcement there
of, when so retained, by sale of the property subject thereto.
SECTION 1. Be it enacted by the General Assembly of Mary-
land, That eight additional sections be added to Article 66 of
the Code of Public General Laws of Maryland of 1904, title
"Mortgages," to be numbered 30, 31, 32, 33, 34, 35. 36 and 37,
and read as follows:

30. When any real or personal estate or property shall be
hereafter transferred or conveyed, and the purchase money, or
any part thereof, shall remain unpaid at the time of the trans-
fer or conveyance, the vendor shall not thereby have a lien or
charge on the same for any other or different sum or sums of
money than the sum or sums that shall appear to be due on the
face of the deed or instrument conveying the same, and be
therein, together with the time or times set for the payment
thereof, specified and recited; provided, however, nothing here-
in contained shall be construed to affect in any way any mort-
gage given by a purchaser or purchasers to secure the pay-
ment of all or any part or parts of the purchase money, or in
any way affect or postpone the lien of any landlord upon goods
or chattels for the satisfaction or security of rent due or ac-
cruing.

31. In all deeds or other instruments of writing retaining
a lien or charge upon the estate or property thereby conveyed,
as provided in the preceding section of this Article, there may
be inserted a clause authorizing the vendor, his personal repre-
sentatives or assigns, or any other person to be named therein,
to sell the property or estate upon such terms and on such con-
tingencies as may be expressed therein; and where interests in
any lien so retained are held under one or more assignments or
otherwise, the power of sale shall be held divisible, and he or
they holding any such interest who shall first institute proceed-
ings to execute such power shall thereby acquire the exclusive
right to sell such property or estate.


 

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Session Laws, 1910 Session
Volume 487, Page 203   View pdf image (33K)
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