|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ROBERT L. EHRLICH, JR., Governor Ch. 509
|
|
|
|
|
|
|
|
|
(D) THE FORECLOSURE PURCHASER SHALL PROVIDE THE HOMEOWNER WITH
A COPY OF THE NOTICE OF RIGHT TO CANCEL TRANSFER OF DEED OR TITLE
IMMEDIATELY ON EXECUTION OF ANY DOCUMENT THAT INCLUDES A FORECLOSURE
RECONVEYANCE.
(E) THE TIME DURING WHICH THE HOMEOWNER MAY RESCIND THE
CONTRACT OR TRANSFER DOES NOT BEGIN TO RUN UNTIL THE FORECLOSURE
PURCHASER HAS COMPLIED WITH THIS SECTION.
(F) ANY PROVISION IN A FORECLOSURE CONSULTING CONTRACT OR OTHER
AGREEMENT CONCERNING A FORECLOSURE RECONVEYANCE THAT ATTEMPTS OR
PURPORTS TO WAIVE THE HOMEOWNER'S RIGHTS UNDER THIS SECTION, CONSENT
TO JURISDICTION FOR LITIGATION OR CHOICE OF LAW IN A STATE OTHER THAN
MARYLAND, CONSENT TO VENUE IN A COUNTY OTHER THAN THE COUNTY IN WHICH
THE PROPERTY IS LOCATED, OR IMPOSE ANY COSTS OR FILING FEES GREATER THAN
THE FEES REQUIRED TO FILE AN ACTION IN A CIRCUIT COURT, IS VOID.
(G) A FORECLOSURE RECONVEYANCE MAY NOT BE CARRIED OUT USING A
POWER OF ATTORNEY FROM THE HOMEOWNER
(H) A NOTICE OF RESCISSION NEED NOT TAKE THE PARTICULAR FORM
SPECIFIED IN THIS SUBTITLE OR ANY FORM CONTAINED IN ANY AGREEMENT WITH
THE FORECLOSURE CONSULTANT OR FORECLOSURE PURCHASER AND IS EFFECTIVE,
HOWEVER EXPRESSED, IF IT INDICATES THE INTENTION OF THE HOMEOWNER TO
RESCIND THE RECONVEYANCE AGREEMENT.
(I) THE RIGHT TO RESCIND MAY NOT BE CONDITIONED ON THE REPAYMENT
OF ANY FUNDS.
(J) WITHIN 10 DAYS AFTER RECEIPT OF A NOTICE OF RESCISSION GIVEN IN
ACCORDANCE WITH THIS SUBTITLE, THE FORECLOSURE PURCHASER SHALL
RETURN, WITHOUT CONDITION, ANY ORIGINAL DEED, TITLE, CONTRACT, AND ANY
OTHER DOCUMENT SIGNED BY THE HOMEOWNER.
(K) (1) DURING THE 4© 3-DAY RESCISSION PERIOD, A DEED OR OTHER
DOCUMENT AFFECTING TITLE TO THE HOMEOWNER'S RESIDENCE MAY NOT BE
RECORDED.
(2) ANY DEED THAT IS RECORDED AFTER THE 10 3 DAY PERIOD SHALL
CONTAIN AN AFFIDAVIT OF COMPLIANCE WITH THIS SECTION SIGNED BY AN
ATTORNEY ADMITTED TO PRACTICE LAW IN THE STATE.
7-311.
(A) (1) IN THIS SECTION THE FOLLOWING WORDS HAVE THE MEANINGS
INDICATED.
(2) "PRIMARY HOUSING EXPENSES" MEANS THE TOTAL AMOUNT
REQUIRED TO PAY REGULAR PRINCIPAL, INTEREST, RENT, UTILITIES, HAZARD
INSURANCE, REAL ESTATE TAXES, AND ASSOCIATION DUES ON A PROPERTY.
|
|
|
|
|
|
|
|
|
|
- 3001 -
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
