HARRY HUGHES, Governor

1959

Article - Real Property

Section 7-105

Annotated Code of Maryland

(1974 Volume and 1979 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That section(s) of the Annotated Code of Maryland
be repealed, amended, or enacted to read as follows:

Article - Real Property

7-105.

(a) A provision may be inserted in a mortgage or deed
of trust authorizing any natural person named in the
instrument, including the secured party, to sell the
property or declaring the borrower's assent to the passing
of a decree for the sale of the property, on default in a
condition on which the mortgage or deed of trust provides
that a sale may be made. A sale made pursuant to this
section or to the Maryland Rules, after final ratification
by the court and grant of the property to the purchaser on
payment of the purchase money, has the same effect as if the
sale and grant were made under decree between the proper
parties in relation to the mortgage or deed of trust and in
the usual course of the court, and operates to pass all the
title which the borrower had in the property at the time of
the recording of the mortgage or deed of trust.

(B) (1) IN ADDITION TO ANY NOTICE REQUIRED TO BE GIVEN
BY PROVISIONS OF THE ANNOTATED CODE OF MARYLAND OR THE
MARYLAND RULES OF PROCEDURE, THE PERSON AUTHORIZED TO MAKE A
SALE IN AN ACTION TO FORECLOSE A MORTGAGE OR DEED OF TRUST
SHALL GIVE WRITTEN NOTICE OF THE PROPOSED SALE TO THE
PRESENT RECORD OWNER OF THE PROPERTY TO BE SOLD.

(2)  THE WRITTEN NOTICE SHALL BE DELIVERED SENT
BY REGISTERED MAIL SENT TO THE PRESENT RECORD OWNER'S LAST
KNOWN ADDRESS. THE NOTICE SHALL STATE THE TIME, PLACE, AND
TERMS OF THE SALE. THE NOTICE SHALL BE SENT NOT EARLIER
THAN 20 DAYS AND NOT LATER THAN 5 DAYS BEFORE THE DATE OF
SALE. THE PERSON GIVING THE NOTICE SHALL FILE IN THE
PROCEEDINGS A RETURN RECEIPT OR AN AFFIDAVIT THAT THE
PROVISIONS OF THIS PARAGRAPH HAVE BEEN COMPLIED WITH. WHERE
SUCH FILING IS MADE BEFORE FINAL RATIFICATION, FAILURE OF
THE MORTGAGOR TO RECEIVE THE NOTICE SHALL NOT INVALIDATE A
SALE.

(3)  FAILURE TO COMPLY WITH THE REQUIREMENTS OF
NOTICE CONTAINED IN THIS SUBSECTION SHALL NOT AFFECT THE
VALIDITY OF THE SALE UNDER THE MORTGAGE OR DEED OF TRUST AND
A PURCHASER FOR VALUE AT THE SALE SHALL BE UNDER NO DUTY TO
ASCERTAIN WHETHER THE NOTICE WAS VALIDLY GIVEN.

(4)  IN THE EVENT OF POSTPONEMENT OF SALE, WHICH
MAY BE DONE IN THE DISCRETION OF THE TRUSTEE, NO NEW OR
ADDITIONAL NOTICE NEED BE GIVEN PURSUANT TO THIS SECTION.