Ch. 587

LAWS OF MARYLAND

(IV)  IS FULLY EXECUTED WITHIN 30 DAYS OF THE
DATE THAT THE INSTRUMENT OF WRITING TRANSFERRING THE PROPERTY IS
DELIVERED FULLY EXECUTED; AND

(V)  IS RECORDED WITHIN 30 DAYS OF THE DATE THAT
THE INSTRUMENT OF WRITING TRANSFERRING THE PROPERTY IS RECORDED

NO LATER THAN 30 DAYS AFTER THE DATE THAT THE INSTRUMENT OF

WRITING TRANSFERRING THE PROPERTY IS FULLY EXECUTED.-----------------

(2) A purchase money mortgage or a purchase money
deed of trust is not subject to recordation tax.

(3) FOR PURPOSES OF THIS SUBSECTION, THE DATE OF
DELIVERY OF AN INSTRUMENT OF WRITING IS THE DATE STATED AS THE
DATE OF DELIVERY IN THE INSTRUMENT OF WRITING. THE DATE OF
DELIVERY MAY BE INSERTED BY AN AGENT OR ATTORNEY IN FACT OF THE
PERSON OR ENTITY EXECUTING THE INSTRUMENT OF WRITING BEFORE, ON,
OR AFTER THE DATE OF EXECUTION OR LAST ACKNOWLEDGEMENT CONTAINED
IN THE INSTRUMENT OF WRITING.

SECTION 2. AND BE IT FURTHER ENACTED,   That this Act shall

take effect July 1, 1989 and shall be applicable to all

instruments relating to transfers of real property occurring
after June 30, 1989.

Approved May 25, 1989.

CHAPTER 587

(Senate Bill 530)

AN ACT concerning

Small Business Surety Bond Guaranty
Fund Program - Contract Term

FOR the purpose of altering a certain definition in the Small
Business Surety Bond Guaranty Fund Program to include in a
contract term the time period during which a surety may be
liable for latent defects; clarifying that the Program is
limited to certain types of contracts; and generally
relating to the Small Business Surety Bond Guaranty Fund
Program.

BY repealing and reenacting, with amendments,

Article - Financial Institutions
Section 13-234(c)
Annotated Code of Maryland

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