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Ch. 502 2006 LAWS OF MARYLAND
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(3) (i) In the event of sale or transfer of the landlord's interest in the
leased premises, including receivership or bankruptcy, the landlord or the landlord's
estate, but not the managing agent or court appointed receiver, shall remain liable to
the tenant and the transferee for maintenance of the security deposit as required by
law, and the withholding and return of the security deposit plus interest as required
by law, as to all or any portion of the security deposit that the landlord fails to deliver
to the transferee together with an accounting showing the amount and date of the
original deposit, the records of the interest rates applicable to the security deposit, if
any, and the name and last known address of the tenant from whom, or on whose
behalf, the deposit was received.
(ii) A security deposit under this section may not be attached by
creditors of the landlord or of the tenant.
(4) Any successor in interest is liable to the tenant for failure to return
the security deposit, together with interest, as provided in this section.
(e) (1) Within 45 days after the end of the tenancy, the landlord shall return
the security deposit to the tenant together with simple interest which has accrued in
the amount of 3 percent per annum, less any damages rightfully withheld.
(2) Interest shall accrue at six-month intervals from the day the tenant
gives the landlord the security deposit. Interest is not compounded.
(3) Interest shall be payable, only on security deposits of $50 or more.
(4) If the landlord, without a reasonable basis, fails to return any part of
the security deposit, plus accrued interest, within 45 days after the termination of the
tenancy, the tenant has an action of up to threefold of the withheld amount, plus
reasonable attorney's fees.
(f) (1) (i) The security deposit, or any portion thereof, may be withheld
for unpaid rent, damage due to breach of lease or for damage by the tenant or the
tenant's family, agents, employees, guests or invitees in excess of ordinary wear and
tear to the leased premises, common areas, major appliances, and furnishings owned
by the landlord.
(ii) The tenant has the right to be present when the landlord or the
landlord's agent inspects the premises in order to determine if any damage was done
to the premises, if the tenant notifies the landlord by certified mail of the tenant's
intention to move, the date of moving, and the tenant's new address.
(iii) The notice to be furnished by the tenant to the landlord shall be
mailed at least 15 days prior to the date of moving.
(iv) Upon receipt of the notice, the landlord shall notify the tenant
by certified mail of the time and date when the premises are to be inspected.
(v) The date of inspection shall occur within five days before or five
days after the date of moving as designated in the tenant's notice.
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