PARRIS N. GLENDENING, Governor

Ch. 384

(1988 Replacement Volume and 1994 Supplement)

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

Article - Real Property

10-702.

(a)     (1) THIS SECTION APPLIES ONLY TO SINGLE FAMILY RESIDENTIAL REAL
PROPERTY IMPROVED BY FOUR OR FEWER SINGLE FAMILY UNITS.

(2) This section does not apply to:

[(1)](I) The initial sale of single family residential real property THAT HAS
NEVER BEEN OCCUPIED BY THE INITIAL PURCHASER OR A TENANT:

1. THAT HAS NEVER BEEN OCCUPIED; OR

2. FOR WHICH A CERTIFICATE OF OCCUPANCY HAS BEEN
ISSUED WITHIN 1 YEAR BEFORE THE VENDOR AND PURCHASER ENTER INTO A
CONTRACT OF SALE;                                                                                 

[(2)] (II) A transfer that is exempt from the transfer tax under § 13-207 of the
Tax - Property Article, except land installment contracts of sale under § 13-207(11) of
the Tax - Property Article and options to purchase real property under § 13-207(12) of
the Tax - Property Article;

[(3)] (III) A sale by a lender acquiring LENDER OR AN AFFILIATE OR
SUBSIDIARY OF A LENDER THAT ACQUIRED the real property by foreclosure or deed in
lieu of foreclosure;

[(4)] (IV) A sheriff's sale, tax sale, or sale by foreclosure, partition, or by court
appointed trustee;

[(5)](V) A transfer by a fiduciary in the course of the administration of a
decedent's estate, guardianship, conservatorship, or trust; [or]

[(6)](VI) A transfer of single family residential real property to be converted
by the buyer into a use other than residential use or to be demolished; OR

(VII) A SALE OF UNIMPROVED REAL PROPERTY.

(b)     (1) A vendor of single family residential real property shall complete and
deliver to each purchaser:

(i) A written residential property condition disclosure statement on a
form provided by the State Real Estate Commission; or

(ii) A written residential property disclaimer statement on a form
provided by the State Real Estate Commission.

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