Ch. 466

2003 LAWS OF MARYLAND

(c)      If a sale is made on credit, the court, on application of the mortgagee or
creditor, may direct any bond taken in consequence of the sale to be assigned to the
mortgagee or creditor and the assignee may sue on the bond in his own name.

(d)     The court may decree a sale of an equitable title in any case where a decree
for the sale of the legal title could be passed. The purchaser of the equitable title has
the same remedy for obtaining the legal title as the person whose equitable interest
he purchased would have had if no sale had been made.

(e)     If property is sold pursuant to a judicial decree, all costs of the proceedings
accruing up to and including the final ratification of the sale shall be paid prior to the
final ratification of the first auditor's account after the sale. The costs shall include
the fees for recording all papers which are proper to be recorded by law. After
payment of the costs, the clerk of the court shall record all the proper required papers.

(F) (1) IN BALTIMORE CITY, IF A FORECLOSURE SALE UNDER A MORTGAGE
OR A DEED OF TRUST OF AN INTEREST IN LAND IS RATIFIED, THE PERSON MAKING
THE SALE SHALL CAUSE TO BE RECORDED IN THE LAND RECORDS A COPY OF THE
FOLLOWING ORDERS WITHIN 30 DAYS OF THE ISSUANCE OF THE ORDER:

(1) A FINAL ORDER OF RATIFICATION AND A COPY OF THE REPORT OF
SALE; AND

(2) AN ORDER AUTHORIZING A SUBSTITUTE PURCHASER WITHIN 90
DAYS OF THE DATE OF THE FINAL ORDER OF RATIFICATION IF:

(I)  THE VENDOR AND THE PURCHASER ARE THE SAME; AND

(II)  A DEED IS NOT RECORDED.

(2)  THE COPY OF THE FINAL ORDER OF RATIFICATION SHALL INCLUDE
THE NAME AND ADDRESS OF THE PURCHASER.

(3)  THIS SUBSECTION DOES NOT APPLY TO A FORECLOSURE THAT IS
SUBJECT TO A STAY ISSUED BY A COURT IN A BANKRUPTCY PROCEEDING.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
October 1, 2003.

Approved May 22, 2003.

CHAPTER 466
(House Bill 1051)

AN ACT concerning

Environment - Brownfields - Environmental Restoration and Development

FOR the purpose of providing that certain owners of certain real property that is
contiguous to certain contaminated or potentially contaminated property are not

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