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Ch. 509 2005 LAWS OF MARYLAND
IN FORECLOSURE, THE FULL SATISFACTION OF THAT OBLIGATION, OR THE
POSTPONEMENT OR AVOIDANCE OF A SALE OF A RESIDENCE IN FORECLOSURE
UNDER A POWER OF SALE OR AN ASSENT TO A DECREE CONTAINED IN ANY
MORTGAGE OR DEED OF TRUST;
(8) (5) ARRANGING OR FACILITATING THE PURCHASE OF A
HOMEOWNER'S EQUITY OF REDEMPTION OR LEGAL OR EQUITABLE TITLE WITHIN 20
DAYS OF AN ADVERTISED OR DOCKETED FORECLOSURE SALE;
(9) (6) ARRANGING OR FACILITATING ANY TRANSACTION THROUGH
WHICH A HOMEOWNER WILL BECOME A LESSEE, OPTIONEE, LIFE TENANT, PARTIAL
HOMEOWNER, OR VESTED OR CONTINGENT REMAINDERMAN OF THE HOMEOWNER'S
RESIDENCE;
(10) (7) ARRANGING OR FACILITATING THE SALE OF A HOMEOWNER'S
RESIDENCE OR THE TRANSFER OF LEGAL TITLE, IN ANY FORM, TO ANOTHER PARTY
AS AN ALTERNATIVE TO FORECLOSURE;
(11) (8) ARRANGING FOR A HOMEOWNER TO HAVE AN OPTION TO
REPURCHASE THE HOMEOWNER'S RESIDENCE AFTER A SALE OR TRANSFER;
(12) (9) ARRANGING FOR OR FACILITATING A HOMEOWNER REMAINING
IN THE HOMEOWNER'S RESIDENCE AS A TENANT, RENTER, OR LESSEE; OR
(13) (10) ARRANGING OR FACILITATING ANY OTHER GRANT,
CONVEYANCE, SALE, LEASE, TRUST, OR GIFT BY WHICH A HOMEOWNER CLOGS THE
HOMEOWNER'S EQUITY OF REDEMPTION IN THE HOMEOWNER'S RESIDENCE.
(F) (E) "FORECLOSURE PURCHASER" MEANS A PERSON WHO ACQUIRES
TITLE OR POSSESSION OF A DEED OR OTHER DOCUMENT TO A RESIDENCE IN
FORECLOSURE AS A RESULT OF A FORECLOSURE RECONVEYANCE.
(G) (F) "FORECLOSURE RECONVEYANCE" MEANS A TRANSACTION
INVOLVING:
(1) THE TRANSFER OF TITLE TO REAL PROPERTY BY A HOMEOWNER
DURING OR INCIDENT TO A PROPOSED FORECLOSURE PROCEEDING, EITHER BY
TRANSFER OF INTEREST FROM THE HOMEOWNER TO ANOTHER PARTY OR BY
CREATION OF A MORTGAGE, TRUST, OR OTHER LIEN OR ENCUMBRANCE DURING THE
FORECLOSURE PROCESS THAT ALLOWS THE ACQUIRER TO OBTAIN LEGAL OR
EQUITABLE TITLE TO ALL OR PART OF THE PROPERTY; AND
(2) THE SUBSEQUENT CONVEYANCE, OR PROMISE OF A SUBSEQUENT
CONVEYANCE, OF AN INTEREST BACK TO THE HOMEOWNER BY THE ACQUIRER OR A
PERSON ACTING IN PARTICIPATION WITH THE ACQUIRER THAT ALLOWS THE
HOMEOWNER TO POSSESS THE REAL PROPERTY FOLLOWING THE COMPLETION OF
THE FORECLOSURE PROCEEDING, INCLUDING AN INTEREST IN A CONTRACT FOR
DEED, PURCHASE AGREEMENT, LAND INSTALLMENT SALE, CONTRACT FOR SALE,
OPTION TO PURCHASE, LEASE, TRUST, OR OTHER CONTRACTUAL ARRANGEMENT.
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- 2992 -
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