|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2002 LAWS OF MARYLAND
|
|
|
|
|
|
Ch. 492
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2. Does not require the builder to register every new home
but the builder has decided to sell the new home with a new home warranty; or
(ii) If the builder belongs to a new home warranty security plan
that does not require the builder to register every new home and the builder has not
decided whether or not to sell the new home with a new home warranty, give the
owner the option of:
1. Purchasing the new home with the new home warranty
provided by the builder's new home warranty security plan; or
2. Waiving the right to warranty coverage by making the
affirmative waiver described in § 10-607 of this subtitle.
(c) (1) If the purchase or construction contract provides that the new home
shall be covered by a new home warranty under a new home warranty security plan
it shall constitute a material breach of the contract if either:
(i) The builder was not a participant in good standing on the date
of the contract with a new home warranty security plan that satisfies the
requirements of § 10-606(a) of this subtitle; or
(ii) The new home has not been registered in the plan on or before
the warranty date.
(2) If there has been a material breach of the contract, the owner shall be
entitled to whatever remedies are provided by law including, but not limited to:
(i) Rescission of the contract; and
(ii) Except in the case of a construction contract for a new home
built on the owner's property, a refund of any money paid to the builder for the new
home.
(d) (1) The builder shall notify the new home warranty security plan of each
new home being constructed by the builder on the earlier of the date of the purchase
or construction contract or the start of construction of the new home.
(2) Upon receipt of notification by the builder as required in paragraph
(1) of this subsection, the new home shall be eligible for registration in the builder's
new home warranty security plan.
(e) (1) Upon registration of the new home in the new home warranty
security plan, warranty coverage which has not been waived by the owner shall be
provided beginning on the warranty date for the new home constructed by the builder,
provided that the builder was in good standing with the new home warranty security
plan at the time of the contract.
(2) On the warranty date, the builder shall provide the owner with
evidence, in a form approved by the [Secretary] DIVISION that the new home is
covered by a new home warranty that meets the requirements of this subtitle.
|
|
|
|
|
|
|
|
|
|
- 3880 -
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
