§ 18-501 Definitions
§ 18-502 Payment of procurement contract
§ 18-503 Interest on unpaid contracts
§ 18-504 Liability of Commission
contract signature

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Terms Used In Maryland Code > LAND USE > Division II > Title 18 > Subtitle 5 - Payment of Obligations

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Contract: A legal written agreement that becomes binding when signed.
  • Decedent: A deceased person.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Personal representative: includes an administrator and an executor. See
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.