3472

LAWS OF MARYLAND

Ch. 853

certain conditions; providing that certain provisions of law
apply to a sale by a vendor or builder that has outstanding

a certain number of certain contracts; and generally

relating to the escrow account requirement imposed on

certain sellers and builders of certain residential units.

BY repealing and reenacting, with amendments,

Article - Real Property

Section 10-301

Annotated Code of Maryland

(1981 Replacement Volume and 1985 Supplement)

(As enacted by Chapter 732 of the

Acts of the General Assembly of 1985)

FOR the purpose of requiring certain payments to custom home
builders to be held in trust; providing for certain funds to
be kept in escrow; providing for a surety bond in lieu of an
escrow fund; defining certain terms; providing that certain
contracts be in writing; providing that a contract shall
provide certain information and disclosures under certain
conditions; providing that certain provisions of law apply
to a sale by a vendor or builder that has outstanding a
certain number of certain contracts; providing for penalties
for certain violations of this Act; and generally relating
to custom home contracts.

BY repealing and reenacting, with amendments,

Article - Real Property

Section 10-304

Annotated Code of Maryland

(1981 Replacement Volume and 1985 Supplement)

BY adding to

Article - Real Property

Section 10-301.2 Section 10-501 through 10-508 10-509 to be

under the new subtitle "Subtitle 5. Custom Home

Protection Act"

Annotated Code of Maryland

(1981 Replacement Volume and 1985 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article - Real Property

10-301.

(a) If, in connecting with the sale and purchase of a new
single family residential unit which is not completed at the time
of contracting the sale, the vendor or builder obligates the