Maryland 2024 Regular Session

Maryland House Bill HB1196 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1
2	2
3	3	EXPLANATION: CAPITALS INDICATE MAT TER ADDED TO EXISTING LAW .
4	4	[Brackets] indicate matter deleted from existing law.
5	5	hb1196
6	6
7	7	HOUSE BILL 1196
8	8	N1 4lr1771
9	9	CF SB 962
10	10	By: Delegates Rose, Jacobs, Arentz, Chisholm, Hornberger, Mangione, McComas,
11	11	Miller, T. Morgan, Stonko, and Tomlinson
12	12	Introduced and read first time: February 8, 2024
13	13	Assigned to: Environment and Transportation
14	14
15	15	A BILL ENTITLED
16	16
17	17	AN ACT concerning 1
18	18
19	19	Real Property – Contracts of Sale – Title Report Requirement 2
20	20
21	21	FOR the purpose of requiring the seller of any real property to provide a certain title report 3
22	22	to the buyer prior to closing; authorizing a buyer to rescind a contract of sale under 4
23	23	certain circumstances; establishing that a violation of this Act is an unfair, abusive, 5
24	24	or deceptive trade practice; and generally relating to title reports. 6
25	25
26	26	BY repealing and reenacting, with amendments, 7
27	27	Article – Commercial Law 8
28	28	Section 13–301(14)(xl) 9
29	29	Annotated Code of Maryland 10
30	30	(2013 Replacement Volume and 2023 Supplement) 11
31	31
32	32	BY repealing and reenacting, without amendments, 12
33	33	Article – Commercial Law 13
34	34	Section 13–301(14)(xli) 14
35	35	Annotated Code of Maryland 15
36	36	(2013 Replacement Volume and 2023 Supplement) 16
37	37
38	38	BY adding to 17
39	39	Article – Commercial Law 18
40	40	Section 13–301(14)(xlii) 19
41	41	Annotated Code of Maryland 20
42	42	(2013 Replacement Volume and 2023 Supplement) 21
43	43
44	44	BY adding to 22
45	45	Article – Real Property 23
46	46	Section 10–714 24
47	47	Annotated Code of Maryland 25
48	48	(2023 Replacement Volume) 26 2 HOUSE BILL 1196
49	49
50	50
51	51
52	52	SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, 1
53	53	That the Laws of Maryland read as follows: 2
54	54
55	55	Article – Commercial Law 3
56	56
57	57	13–301. 4
58	58
59	59	Unfair, abusive, or deceptive trade practices include any: 5
60	60
61	61	(14) Violation of a provision of: 6
62	62
63	63	(xl) Title 14, Subtitle 13 of the Public Safety Article; [or] 7
64	64
65	65	(xli) Title 14, Subtitle 45 of this article; or 8
66	66
67	67	(XLII) § 10–714 OF THE REAL PROPERTY ARTICLE; OR 9
68	68
69	69	Article – Real Property 10
70	70
71	71	10–714. 11
72	72
73	73	(A) THE SELLER OF ANY REAL PROPERTY LOCATED IN THE STATE SHALL, 12
74	74	PRIOR TO CLOSING , PROVIDE THE BUYER WITH A TITLE REPORT THAT IS 13
75	75	SUPPORTED BY AN AFFI DAVIT BY THE PERSON MAKING THE TITLE SEARCH STATING 14
76	76	THAT A COMPLETE SEAR CH OF THE PUBLIC REC ORDS COVERING A PERIOD OF NOT 15
77	77	LESS THAN 60 YEARS HAS BEEN PERFORMED I N ACCORDANCE WITH GE NERALLY 16
78	78	ACCEPTED STANDARDS O F TITLE EXAMINATION . 17
79	79
80	80	(B) A BUYER, BY WRITTEN NOTICE TO TH E SELLER NOT LATER THAN 5 DAYS 18
81	81	AFTER CLOSING , MAY RESCIND A CONTRACT OF SALE FOR REAL PROPERTY IF THE 19
82	82	TITLE REPORT PROVIDED UNDER SUBSECTION (A) OF THIS SECTION REVEALS ANY 20
83	83	OF THE FOLLOWING TIT LE DEFECTS: 21
84	84
85	85	(1) AN UNMARKETABLE TITLE ; 22
86	86
87	87	(2) A FRAUDULENT OR FORGED DEED; 23
88	88
89	89	(3) AN ENCUMBRANCE OR EASEM ENT; 24
90	90
91	91	(4) A MISSING HEIR; 25
92	92
93	93	(5) A LIEN; 26
94	94
95	95	(6) A DISPUTED BOUNDARY ; OR 27 HOUSE BILL 1196 3
96	96
97	97
98	98
99	99	(7) ANY OTHER DEFECT THAT MATERIALLY IMPACTS THE BUYER’S 1
100	100	CLAIM OF TITLE. 2
101	101
102	102	(C) FAILURE TO PROVIDE A TITLE REPO RT AS REQUIRED BY SUBSECTION 3
103	103	(A) OF THIS SECTION IS: 4
104	104
105	105	(1) AN UNFAIR, ABUSIVE, OR DECEPTIVE TRADE P RACTICE WITHIN 5
106	106	THE MEANING OF TITLE 13 OF THE COMMERCIAL LAW ARTICLE; AND 6
107	107
108	108	(2) SUBJECT TO THE ENFORCEMENT AND PENA LTY PROVISIONS 7
109	109	CONTAINED IN TITLE 13 OF THE COMMERCIAL LAW ARTICLE. 8
110	110
111	111	SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect 9
112	112	October 1, 2024. 10