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Session Laws, 1950
Volume 587, Page 238   View pdf image (33K)
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238 LAWS OF MARYLAND [CH. 12

quire bond and security for the performance of the trust as
is usual in cases of sales of mortgaged premises.

(b) The trustee or trustees so appointed, after having given
the required bond, may, after the arrival of the period limi-
ted by the decree for a sale, sell, agreeably to the terms of
said decree, the mortgaged property or any part thereof and
such sales if finally ratified by said court, and the convey-
ances thereupon made shall have the same effect as if the same
had been made under decrees between the proper parties in
relation to the mortgages and in the usual course of said
court; and the proceeds of such sales shall be accounted for,
to, and be distributed by, said court, in the manner usual
in cases of sale under decrees of said court.

(c) The said court may, at its discretion from time to time,
appoint any, other trustee or trustees in place of those ap-
pointed by the decree.

8. (a) All sales made under any of the foregoing sections
hereof shall be reported under oath to the chancery court
where the sale is made, and there shall be the same pro-
ceedings on every such report as if the same were made
by a trustee under a decree of said court and the court
shall have full power to hear and determine any objections
which may be filed against such sale by any person interested
in the property and may confirm or set aside said sale.

(b) If any such sale be set aside by the court, a re-sale may
be ordered to be made by the person or trustee who made
the previous sale, or the court may, if justice require it, ap-
point a special trustee to make such re-sale.

(e) All such sales, when confirmed by the court and con-
veyance made in pursuance thereof upon payment of the pur-
chase money, shall pass all the title which the mortgagor had
in the said mortgaged property at the time of the recording
of the mortgage.

(d) Before any application of the proceeds of any such
sale is made to the mortgage debt, the mortgagee or his ex-
ecutors, administrators, or his assigns if the mortgage claim
shall have been assigned before such sale, or his or their
duly constituted agent or attorney, shall file in said court a
statement under oath of the amount of the mortgage debt re-
maining due.

9. No title to mortgaged property derived from any sale
made and confirmed as aforesaid shall be questioned, im-
peached or defeated, either at law or in equity, by reason
that the mortgaged property was purchased in by the mort-


 

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Session Laws, 1950
Volume 587, Page 238   View pdf image (33K)
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