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Session Laws, 1958
Volume 619, Page 282   View pdf image (33K)
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282                               LAWS OF MARYLAND                         [CH. 87

add new Section 114A to said Article, to follow immediately after
Section 114 thereof, relating generally to rights

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OF VENDEES TO ENFORCE PROVISIONS OF THIS
ARTICLE RELATING TO to land installment contracts.

SECTION 1. Be it enacted by the General Assembly of Maryland,
That Section 114 of Article 21 of the Annotated Code of Maryland
(1957 Edition), title "Conveyancing", sub-title "Land Installment
Contracts", be and the same is hereby repealed and re-enacted, with
amendments, and that new Section 114A be and the same is hereby
added to Section 114 thereof, to follow directly thereafter, all to read
as follows:

114. Statement to be furnished by vendor.

Every vendor under a land installment contract shall, 1) annually
within fifteen
THIRTY days of the first of each calendar year, or 2) on
demand of the vendee NO MORE THAN TWICE A YEAR, furnish a
statement to the vendee showing

(a)   The total amount paid for

(1)   Ground rent, if any,

(2)   Insurance,

(3)   Taxes and other periodic charges;

(b)   The amount credited to principal and interest; and

(c)   The balance due.

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SECTION 114A. UPON THE FAILURE OF ANY VENDOR TO
COMPLY WITH THE PROVISIONS OF SECTION 112(7) OR SEC-
TION 114 OF THIS ARTICLE THE VENDEE SHALL HAVE THE
RIGHT TO ENFORCE THESE SECTIONS IN A COURT OF
EQUITY. UPON THE DETERMINATION OF SAID COURT
THAT THE VENDOR HAS FAILED TO COMPLY WITH THESE
PROVISIONS THE COURT SHALL GRANT APPROPRIATE RE-
LIEF AND SHALL REQUIRE THE VENDOR TO ASSUME ALL
COURT COSTS AS WELL AS A REASONABLE COUNSEL FEE
FOR VENDEE'S ATTORNEY.

SEC. 2. And be it further enacted, That this Act shall take effect
June 1, 1958.

Approved April 4, 1958.

 

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Session Laws, 1958
Volume 619, Page 282   View pdf image (33K)
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