Maryland Code, ENVIRONMENT 6-824
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Terms Used In Maryland Code, ENVIRONMENT 6-824
- Contract: A legal written agreement that becomes binding when signed.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
An owner shall disclose an obligation to perform either the modified or full risk reduction treatment to an affected property under this subtitle to any prospective purchaser of an affected property at or prior to the time a contract of sale is executed, if:
(1) An event has occurred that requires performance of either the modified or full risk reduction treatment to the affected property under this subtitle; and
(2) The owner will not perform the required treatment prior to the transfer of ownership.