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Session Laws, 1950
Volume 587, Page 240   View pdf image (33K)
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240 LAWS OF MARYLAND [CH. 12

effect as an assignment and conveyance of the mortgage
claim, to take effect and precedence from the time of such
entry; but such entry shall not be made without an order or
direction in writing, to be. signed and acknowledged before
the judge of said court or before a notary public or before
any other person authorized to take acknowledgments of
deeds, by the person purporting to sign the same, and -filed
and recorded by the clerk of the court.

14. The duly authorized entries upon the docket of the
court, of the satisfaction of any decrees and the discharge of
any mortgage claims, made by the persons entitled to receive
said claim, shall have the same effect to discharge the mort-
gaged property of said mortgage and all liens thereunder, as
any release or other conveyance made by such persons; but
such entries shall not be made without an order or direction
in writing duly signed by such persons and acknowledged by
them before the judge of said court, or before a notary pub-
lic or any other person authorized to take acknowledgments
of deeds and filed with the clerk of the court; and the en-
tries shall refer to such orders or directions and the names
of the persons aforesaid; and said orders and directions shall
be recorded in said court with said decrees.

15. If, upon a sale of the whole mortgaged property under
any of the provisions of this Article, the net proceeds of sale,
after the cost and expenses allowed by the court are satisfied,
shall not suffice to pay the mortgage debt and accrued in-
terest, as the same shall be found and determined by the judg-
ment 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, provided said motion is made
within three years after final ratification by the court of the
auditor's report and account in regard to the mortgage sale,
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 proceeding, 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
contained in the mortgage for said residue of said mortgage
debt so remaining unpaid and unsatisfied by the proceeds of
such sale or sales; which decree shall have the same effect and
be a lien as in a case of a judgment at law, and may be
enforced in like manner by a writ of execution in the nature
of a writ of fieri facias by attachment or otherwise.

SEC. 2. And be it further enacted, That Sections 508 to 523,
inclusive, of Article 4 of the Code of Public Local Laws of


 

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Session Laws, 1950
Volume 587, Page 240   View pdf image (33K)
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