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Ch. 93
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2006 LAWS OF MARYLAND
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20 CALENDAR DAYS AFTER ENTERING INTO THE CONTRACT, THE PURCHASER OF
THE PROPERTY IS PROVIDED THE FOLLOWING INFORMATION IN WRITING:
(1) IN CONSPICUOUS, BOLD, AND UNDERSCORED TYPE, SUBSTANTIALLY
THE SAME AS THE FOLLOWING CLAUSE:
'THIS SALE IS SUBJECT TO A TAX OR FEE OF A (SPECIAL TAXING DISTRICT OR
COMMUNITY DEVELOPMENT AUTHORITY). STATE LAW REQUIRES THAT THE SELLER
DISCLOSE TO YOU AT OR BEFORE THE TIME THE CONTRACT IS ENTERED INTO, OR
WITHIN 20 CALENDAR DAYS AFTER ENTERING INTO THE CONTRACT, CERTAIN
INFORMATION CONCERNING THE PROPERTY YOU ARE PURCHASING. THE CONTENT
OF THE INFORMATION TO BE DISCLOSED IS SET FORTH IN § 10-704 OF THE REAL
PROPERTY ARTICLE OF THE MARYLAND ANNOTATED CODE AND INCLUDES THE
AMOUNT OF THE CURRENT ANNUAL TAX OR FEE OF THE (SPECIAL TAXING DISTRICT
OR COMMUNITY DEVELOPMENT AUTHORITY) FOR THE PROPERTY, THE NUMBER OF
YEARS REMAINING FOR THE TAX OR FEE OF THE (SPECIAL TAXING DISTRICT OR
COMMUNITY DEVELOPMENT AUTHORITY), AND A STATEMENT OF WHETHER ANY TAX
OR FEE OF THE (SPECIAL TAXING DISTRICT OR COMMUNITY DEVELOPMENT
AUTHORITY) AGAINST THE PROPERTY IS DELINQUENT.";
(2) THE AMOUNT OF THE CURRENT ANNUAL TAX OR FEE OF THE
SPECIAL TAXING DISTRICT OR COMMUNITY DEVELOPMENT AUTHORITY FOR THE
PROPERTY;
(3) THE NUMBER OF YEARS REMAINING FOR THE TAX OR FEE OF THE
SPECIAL TAXING DISTRICT OR COMMUNITY DEVELOPMENT AUTHORITY ON THE
PROPERTY; AND
(4) WHETHER ANY TAX OR FEE OF THE SPECIAL TAXING DISTRICT OR
COMMUNITY DEVELOPMENT AUTHORITY AGAINST THE PROPERTY IS DELINQUENT.
(B) THE REQUIREMENTS OF SUBSECTION (A) OF THIS SECTION SHALL BE
DEEMED FULFILLED IF THE INFORMATION REQUIRED TO BE PROVIDED TO THE
PURCHASER IS DONE SO IN WRITING, IN A CLEAR AND CONCISE MANNER
(C) THE STATEMENT REQUIRED UNDER SUBSECTION (A)(1) OF THIS SECTION
MAY BE PROVIDED TO THE PURCHASER BY THE INCLUSION OF THE STATEMENT AS A
CLAUSE IN THE CONTRACT FOR SALE OF THE PROPERTY.
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
October 1, 2006, and shall be applicable to all contracts entered into on or after
October 1, 2006.
Approved April 11, 2006.
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- 642 -
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