Maryland Code, REAL PROPERTY 10-704
Terms Used In Maryland Code, REAL PROPERTY 10-704
- Contract: A legal written agreement that becomes binding when signed.
- County: means a county of the State or Baltimore City. See
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- state: means :
(1) a state, possession, territory, or commonwealth of the United States; or
(2) the District of Columbia. See
(1) In conspicuous, bold, and underscored type, substantially the same as the following clause:
“This sale is subject to a tax or fee of a (special taxing district or community development authority). State law requires that the seller disclose to you at or before the time the contract is entered into, or within 20 calendar days after entering into the contract, certain information concerning the property you are purchasing. The content of the information to be disclosed is set forth in § 10-704 of the Real Property Article of the Maryland Annotated Code and includes the amount of the current annual tax or fee of the (special taxing district or community development authority) for the property, the number of years remaining for the tax or fee of the (special taxing district or community development authority), and a statement of whether any tax or fee of the (special taxing district or community development authority) against the property is delinquent.”;
(2) The amount of the current annual tax or fee of the special taxing district or community development authority for the property;
(3) The number of years remaining for the tax or fee of the special taxing district or community development authority on the property; and
(4) Whether any tax or fee of the special taxing district or community development authority against the property is delinquent.
(b) The requirements of subsection (a) of this section shall be deemed fulfilled if the information required to be provided to the purchaser is done so in writing, in a clear and concise manner.
(c) The statement required under subsection (a)(1) of this section may be provided to the purchaser by the inclusion of the statement as a clause in the contract for sale of the property.