Ch. 410

2004 LAWS OF MARYLAND

(4)     "Resident entity" means an entity that:

(i) is formed under the laws of the State; or

(ii) is formed under the laws of another state and is qualified by or
registered with the Department of Assessments and Taxation to do business in the
State.

(5)     Total payment" means the net proceeds of a sale actually paid to a
transferor, including the fair market value of any property transferred to the
transferor.

(6)   "TRANSFER PURSUANT TO A DEED IN LIEU OF FORECLOSURE"
INCLUDES:

(I)   A TRANSFER BY THE OWNER OF THE PROPERTY TO:

1.   WITH RESPECT TO A DEED IN LIEU OF FORECLOSURE OF A
MORTGAGE, THE MORTGAGEE, THE ASSIGNEE OF THE MORTGAGE, OR ANY
DESIGNEE OR NOMINEE OF THE MORTGAGEE OR ASSIGNEE OF THE MORTGAGE;

2.   WITH RESPECT TO A DEED IN LIEU OF FORECLOSURE OF A
DEED OF TRUST, THE HOLDER OF THE DEBT OR OTHER OBLIGATION SECURED BY
THE DEED OF TRUST OR ANY DESIGNEE, NOMINEE, OR ASSIGNEE OF THE HOLDER OF
THE DEBT OR OTHER OBLIGATION SECURED BY THE DEED OF TRUST;

3.   WITH RESPECT TO A DEED IN LIEU OF FORECLOSURE OF
ANY OTHER LIEN INSTRUMENT, THE HOLDER OF THE DEBT OR OTHER OBLIGATION
SECURED BY THE LIEN INSTRUMENT OR ANY DESIGNEE, NOMINEE, OR ASSIGNEE OF
THE HOLDER OF THE DEBT SECURED BY THE LIEN INSTRUMENT; AND

(II)  A TRANSFER BY ANY OF THE PERSONS DESCRIBED IN ITEM (I)
OF THIS PARAGRAPH TO A SUBSEQUENT PURCHASER FOR VALUE.

(7)   TRANSFER PURSUANT TO A FORECLOSURE OF A MORTGAGE, DEED
OF TRUST, OR OTHER LIEN INSTRUMENT" INCLUDES:

(I) WITH RESPECT TO THE FORECLOSURE OF A MORTGAGE:

1.   A TRANSFER BY THE MORTGAGEE, THE ASSIGNEE OF THE
MORTGAGE, OR THE ATTORNEY NAMED IN THE MORTGAGE, OR THE ATTORNEY OR
TRUSTEE CONDUCTING A FORECLOSURE SALE PURSUANT TO THE MORTGAGE TO:

A.   THE MORTGAGEE OR THE ASSIGNEE OF THE MORTGAGE;

B.   ANY DESIGNEE, NOMINEE, OR ASSIGNEE OF THE
MORTGAGEE OR ASSIGNEE OF THE MORTGAGE; OR

C.   ANY PURCHASER, SUBSTITUTED PURCHASER, OR
ASSIGNEE OF ANY PURCHASER OR SUBSTITUTED PURCHASER OF THE FORECLOSED
PROPERTY; AND

2.   A TRANSFER BY ANY OF THE PERSONS DESCRIBED IN
ITEM 1 OF THIS SUBPARAGRAPH TO A SUBSEQUENT PURCHASER FOR VALUE;

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